Coin

<ul class="news-points">
 <li>The U.S. Department of Treasury has released new rules for crypto brokers.</li>
 <li>Brokers are required to comply with the new rules from January 1, 2025.</li>
 <li>The recently released rules resemble the processes for traditional investment firms.</li>
</ul>
The U.S. Department of Treasury has released new rules for <a href="https://coinedition.com/what-is-cryptocurrency-a-complete-beginners-guide/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> brokers. The new rules cover tax filing requirements for digital asset brokers, beginning with transactions happening next year. Notably, the rules do not cover the activities of non-custodial crypto firms, as regulations for that category of service providers would likely come later in the year.
According to reports, aspects of the recently released rules resemble the processes for traditional investment firms, such as filling the <a href="https://www.irs.gov/pub/irs-dft/f1099da--dft.pdf" target="_blank" rel="noopener noreferrer nofollow">Form 1099-DA</a>. However, the crypto firms would be required to keep tabs on customers’ tokens from the beginning of 2026. The Internal Revenue Service (IRS) will not call for reporting on most routine stablecoin sales. It has also put an annual threshold on NFT proceeds before reporting.
With the new tax regime, the IRS requires trading platforms, hosted wallet servi…
The post <a href="https://coinedition.com/u-s-treasury-department-releases-new-tax-rules-for-crypto-industry/" rel="noopener noreferrer nofollow">U.S. Treasury Department Releases New Tax Rules For Crypto Industry</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

U.S. Treasury Department Releases New Tax Rules For Crypto Industry

Coin Edition

المزيد من المقالات نُشرت في ٣٠ يونيو ٢٠٢٤

New Solana Memecoin Useless Biden to Explode 16,000% Within 48 Hours, While DOGE and SHIB Struggle

Floki Team Warns Against Scam Tokens on Solana and Base Networks

XRP volume drops 53% – So why are analysts confident of a rally to $20?

Millionaires Are Investing Heavily in These Altcoins

Number of crypto ATMs installed nears its all-time record

Crypto Market Braces for $3 Billion Token Unlock Wave in July

انضم إلى مجلتنا الإخبارية المجانية لآخر تحديثات مجال العملات المشفرة يوميًا.