📣 Attention everyone! The IRS is going to impose a major regulation on the taxation of cryptocurrency profits, and new rules will be implemented starting in 2025!
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Friends, 👋 Today we are going to talk about the new actions of the IRS, which may be related to everyone who trades in cryptocurrencies!
The IRS said that by 2024, US users can still file their own taxes, but starting in 2025, they will have to change the rules. 🔄 For example, local exchanges like Coinbase will have to start recording the token costs of each investor, and arbitrage actions must also be recorded. According to reports, these new rules will officially start in 2026!
In the past! For US users who earned money from cryptocurrencies, filing taxes was like a buffet, and they could file as much as they wanted. But after 2025 and 2026, this good life will change!
Speaking of filing taxes, I know that many users have mixed feelings. 😣 According to reports, the tax rate for this income ranges from 20% to 30%. For users who trade short-term, the tax on short-term income is as high as 30%; for long-term holding (more than one year), the tax is 20%. Who wouldn't feel heartbroken when seeing such a high tax? But I personally think that paying taxes is a matter of course and there is nothing much to say.
Moreover, having a transparent tax plan is definitely a good thing for our precious cryptocurrency in the long run. 🌟 We can't let the cryptocurrency market be hidden forever, right? If we want it to become a global hard currency, transparent regulations are a must!
The implementation of the US tax supervision strategy also reminds global investors, including Chinese community users, that cryptocurrency investment and use are no longer unregulated areas, and compliance and transparency are becoming a global trend.
