Odaily Planet Daily News a16z crypto recently commented on the draft 1099-DA form of the U.S. Internal Revenue Service (IRS). The main points are as follows: - Each digital asset transaction requires multiple brokers to submit Form 1099-DA, resulting in unnecessary duplication of information reporting and an unreasonable burden on filers; - Requiring brokers to report wallet addresses is unnecessary and puts sensitive taxpayer information at significant risk; - Providing the information required by Form 1099-DA is too costly and in some cases even impossible; - The final regulations should postpone or "gradually advance" the effective date of digital asset information reporting requirements; - Non-custodial wallets and digital asset payment processors should be removed from the "broker" category listed on Form 1099-DA; - The IRS should not require the submission of Form 1099-DA when disposing of fiat-backed stablecoins and most NFTs (non-fungible tokens); - The requirement to submit Form 1099-DA should include a minimum threshold that should allow brokers to aggregate transactions for reporting purposes.