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IRS releases draft of proposed reporting rules for digital asset brokers

The Internal Revenue Service (IRS), the agency responsible for tax collection in the United States, released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers would be required to use a new form to report to simplify tax filing and cut down on tax cheating. The regulations bring digital asset reporting into line with reporting on other types of assets, the Treasury said. The proposed rules would go into effect in 2026 to reflect sales and exchanges carried out in 2025. Judging from the initial reaction to the proposal, the IRS may have a lot of comments to field.

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