IRS Reveals Final Draft For Crypto Broker Requirements

Quick Summary:

The Internal Revenue Service (IRS) did not include decentralized exchanges or self-custodial wallets under its crypto broker reporting requirements.

The United States Internal Revenue Service (IRS) revealed its final draft of the new crypto broker reporting requirements on June 28, and clarified the scope of industry participants affected by the new rule changes.

This motivation was previously shared by Werfel’s IRS colleague, criminal investigation chief Guy Ficco, who predicted that there would be an uptick in crypto tax evasion during the 2024 tax season.

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Article Details

Author / Journalist: Sofiya

Category: Crypto

Markets: IndiaUnited States

Topics: Requirements Reveals News IRS Crypto broker Regulations Final Draft Latest News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-30 @ 03:21:42 (6 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 358 words

Reading Time: 2 minutes read

Sentences: 20 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 21419935

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Main Topics: Crypto

Official Website: bitcoinworld.co.in

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