The US Internal Revenue Service (IRS) has unveiled the early draft of a tax form for reporting income from cryptocurrency transactions. The newly released Form 1099-DA, tagged as “Digital Asset Proceeds from Broker Transactions,” is currently open to comments from relevant stakeholders in anticipation of its final version by the IRS. IRS Aims To Launch […]
The cryptocurrency realm is mounting a resilient resistance against impending regulatory proposals seeking to broaden the scope of entities obliged to disclose specific digital currency transactions. In August, the draft of the proposed guidelines was posted by the US Treasury Department, with the aim of mitigating challenges associated with the reporting and taxation of cryptocurrency […]