According to ChainCatcher, the U.S. Treasury Department and the Internal Revenue Service (IRS) have issued 'Final Regulations Implementing Bipartisan Tax Reporting Requirements for Digital Asset Sales and Exchanges'. These regulations are part of the Biden-Harris administration's implementation of the Infrastructure Investment and Jobs Act (IIJA). The announcement explains that digital asset owners have always been required to pay taxes when selling or exchanging digital assets. The bill does not impose any new taxes on digital assets, but rather establishes reporting requirements similar to traditional financial services. The Treasury Department and the IRS detailed that the final regulations will require brokers to report the gross proceeds of all digital asset sales in 2025 starting in 2026, and starting in 2027, brokers must also report tax basis information for certain digital assets sold in 2026.