The IRS has revised its draft form for taxpayers to report digital asset transactions starting in 2026. The updated Form 1099-DA, titled 'Digital Asset Proceeds From Broker Transactions,' allows US taxpayers to report crypto transactions from 2025 by April 2026. Changes from the previous draft include the removal of a box for 'broker type' identification and the exclusion of specific transaction times, focusing only on dates. Additionally, spaces for wallet addresses and transaction IDs were eliminated. The IRS Commissioner stated that the updated form aims to provide clarity and aid taxpayers in accurately reporting digital asset transactions. Industry experts praised the revised form for being less burdensome and requiring less data reporting. The IRS is seeking feedback on the draft for the next 30 days, following criticism of the previous version for its strict requirements. The new regulations exempt decentralized exchanges and self-custody wallets from reporting rules to address tax evasion concerns. Read more AI-generated news on: https://app.chaingpt.org/news