Welcome to the first week of July. Summer is in full swing, but let’s take a moment indoors to explore the finalized crypto regulations in the US and how Lego is creating bricks from stardust.
The US Treasury Department has introduced a new rule to ensure that those involved in crypto trading are properly taxed on their transactions. This rule mandates that cryptocurrency platforms, including exchanges and payment processors, report users’ transactions to the IRS. Starting in 2026, brokers will need to report sales proceeds on digital assets for all transactions completed in 2025, leaving crypto traders to navigate the current landscape on their own for now.
The rule will simplify earnings declarations for individuals, as brokers will now be required to provide a 1099 form. This form has a $10,000 threshold for reporting transactions involving stablecoins, which are cryptocurrencies tied to fiat currencies like the US dollar.
— Mat Smith
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