Golden Finance reported that the IRS has finalized new regulations for taxing cryptocurrencies, and cryptocurrency trading platforms will need to report transactions to the IRS starting in 2026. However, decentralized platforms that do not hold assets will be exempted. These are the main contents of the new regulations finalized by the IRS and the U.S. Treasury on Friday, which essentially implement a provision in the Infrastructure Investment and Jobs Act passed by the Biden administration in 2021. Even without these new regulations, cryptocurrency holders need to pay taxes; however, there is no real standardization on how to report these 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 also said it is working to combat tax evasion.