PANews reported on June 30 that according to TechCrunch, the U.S. Internal Revenue Service (IRS) has finalized new rules for cryptocurrency taxation. Starting in 2026, crypto platforms will have to report transactions to the IRS, but decentralized platforms that do not hold assets themselves will be exempted.
This is the main content of the new regulations finalized by the U.S. Internal Revenue Service and the U.S. Treasury Department on Friday, which essentially implements a provision in the Infrastructure Investment and Jobs Act passed by the Biden administration in 2021.
Even without these new rules, cryptocurrency holders still need to pay taxes. But there are no clear standards for how to report holdings to the government and individual investors. Starting in 2026 (covering transactions in 2025), cryptocurrency platforms must provide standard 1099 forms, similar to those sent by banks and traditional brokerage firms. In addition to simplifying the tax process for cryptocurrencies, the IRS has also said it is working to combat tax evasion.
