Coinspeaker
US Treasury, IRS Finalize Crypto Broker Tax Reporting Rules
On Friday, the US Treasury Department and the Internal Revenue Service (IRS) concluded the delayed reporting requirements for digital asset brokers providing trading front-end services.
The new regulations apply to all digital asset intermediaries and exchange platforms, including those handling NFTs, except when acting as direct customer agents, dealers, or principals.
Front-End Service Providers Face Strict Rules
The Treasury demands that crypto brokers who provide trading front-end services will need to ensure that all user activity is tracked and reported starting from January 1, 2027.
Notably, the regulations require that all transactions involving US and non-US citizens be tracked and included in the report.
The regulations do not include DeFi participants who only provide internet services, internet browsers, or computer or smartphone manufacturers. The new rules are specifically directed at De
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