According to Foresight News, the U.S. Treasury Internal Revenue Service released the 2025 cryptocurrency transaction tax system, but the relevant rules for DeFi and non-custodial wallets have been postponed. The newly released tax rules will take effect on transactions starting in 2025 and require brokers to pay close attention to the cost basis of customer tokens starting in 2026. The new rules for cryptocurrency brokers require trading platforms, custodial wallet services, and digital asset exchange platforms to submit disclosures about changes in customer assets and gains. These assets will also include (in very limited cases) stablecoins such as USDT, USDC, and high-value NFTs. The agency said that mainstream crypto platforms that handle the vast majority of transactions can no longer wait for the rules, but other issues require more research and corresponding rules will be formulated later this year.
