PANews reported on August 10 that according to CoinDesk, the U.S. Internal Revenue Service (IRS) has released a draft of a new crypto tax form 1099-DA, which will be used by crypto investors to report certain trading gains and will take effect in 2026. The new form is simpler than the previous version, deleting the part that requires filling in the wallet address and transaction ID, which has caused privacy concerns. In addition, the form no longer requires filling in the transaction time, only the transaction date. The IRS said that this adjustment will make crypto tax reporting simpler and clearer, and the public has 30 days to comment on the draft.
Earlier in June, a16z crypto submitted feedback on the IRS draft 1099-DA form.