The U.S. IRS has granted temporary tax relief to central finance (CeFi) brokers and cryptocurrency holders in 2025. 🎉

The regulation aims to ease the complexity of Regulation 6045, which will go into effect on January 1, 2025. CeFi brokers will report crypto transactions and apply specific accounting methods.

Taxpayers can identify their sales using their own records or crypto tax software, thus avoiding the default FIFO method. However, starting in 2026, they will be required to choose an accounting method. 📊

This development comes on the heels of the IRS introducing a new reporting rule that includes DeFi platforms.