U.S. Treasury Issues Crypto Tax Regime For 2025, Delays Rules for Non-Custodians
The U.S. Treasury Department issued new tax rules for cryptocurrency transactions, requiring disclosures from digital assets brokers starting in 2025. The rules cover trading platforms, hosted wallet services, and digital assets kiosks, including stablecoins and high-value NFTs. Non-custodial crypto businesses have a temporary reprieve. Real estate transactions with cryptocurrencies will also need reporting from 2026. The IRS aims to improve tax compliance and reduce evasion by wealthy investors. The regulations aim to affect about 15 million people and 5,000 firms. The IRS clarified reporting requirements for stablecoins and NFTs and defined a safe harbor for reporting digital assets. The rules do not address the debate over whether tokens are securities or commodities.
