The Treasury Department and IRS released final cryptocurrency broker reporting requirements Friday but delayed addressing some of the more complicated concerns raised by the industry.
The regulations (TD 10000; RIN: 1545-BP71) provide the public with clarity on the reporting requirements for brokers involved in the sale of virtual currency under Section 6045 of the US tax code and brokers who are third-party settlement organizations under Section 6050W.
The rules require crypto exchanges to report information on users including transactions and identifying information. Centralized exchanges such as Coinbase Global Inc., are required to start reporting ...