According to Odaily Planet Daily, the U.S. Internal Revenue Service has determined new rules for taxing cryptocurrencies. Starting in 2026, crypto platforms will need to report transactions to the IRS, but decentralized platforms, that is, those that do not hold assets themselves, will be exempted. These new rules were determined by the IRS and the U.S. Treasury Department on Friday, essentially implementing a provision in the Infrastructure Investment and Jobs Act passed by the Biden administration in 2021. Starting in 2026 (covering transactions in 2025), cryptocurrency platforms must provide standard 1099 forms, similar to those sent by banks and traditional brokerage firms. The IRS said that in addition to simplifying the tax process for cryptocurrencies, it is also working to combat tax evasion.
