IRS to introduce a third-party reporting system for crypto transactions on CEXs like Coinbase and Gemini in 2025

2025 will mark the first tax year that crypto transactions will be subject to third-party reporting requirements. IRS will implement a third-party reporting system for crypto asset transactions on CEXs such as Coinbase and Gemini. According to reports, custodial account transaction information involving crypto assets will be synchronized to the IRS through Form 1099-DA and […] source: https://www.cryptopolitan.com/irs-third-party-reports-crypto-on-cexs-2025/