A few days ago, the US Treasury Department has proposed new regulations that would require centralized and decentralized crypto exchanges to report their clients' detailed transaction information to the IRS, starting in 2026.
According to him, this regulation aims to increase transparency and combat tax avoidance in the crypto sector, with an estimated increase in revenue of up to $28 billion (Rp. 420 trillion) over a decade.
The regulations will also cover reporting to real estate brokers in cases involving digital asset transactions.
The public can provide comments and responses to the proposal until October 30, with hearings scheduled for November 7 and 8.
The following are the responses and reactions of several leading figures in the crypto world to the crypto tax reporting regulations recently proposed by the United States Department of Finance above.
⚫ Ryan Selkis (CEO of Messari):— If Biden is successfully re-elected, the crypto industry will not develop in the country
⚫ Chris Perkins, (CoinFund VC President):— “Other jurisdictions have taken this initiative and unfortunately America is lagging behind”— “We need proactive and nuanced policies that encourage and unlock responsible innovation across the crypto vertical”— “Clarity is coming, in any way"
⚫ Kristin Smith (CEO Blockchain Association):— Has doubts about combining digital asset reporting with traditional assets
⚫ Michael Sonnenshein (CEO Grayscale Investments):— Continuous enforcement actions will drive crypto companies out of the country
⚫ Brad Garlinghouse (CEO Ripple):— The crypto industry is moving away from the US due to the slower crypto regulatory process compared to other countries.
