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IRS Pushes Crypto Exchanges Toward Mandatory Digital Tax Reporting

IRS Pushes Crypto Exchanges Toward Mandatory Digital Tax Reporting

Author:

Global Cryptocurrency

Published:

2026-03-07 23:34:02

5

3

BTCCSquare news:

The U.S. Internal Revenue Service is advancing a proposal that would mandate electronic delivery of tax forms for cryptocurrency transactions, phasing out paper-based reporting. Exchanges would issue Form 1099-DA exclusively in digital format, with non-compliant users potentially facing account closures.

Consent for digital delivery would become the default during account setup, locking users into electronic reporting unless they terminate their exchange relationships. Technical failures in email delivery would trigger notifications rather than paper alternatives, underscoring the IRS's commitment to digitization.

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