The proposed regulations for digital asset transaction reporting under the Infrastructure Investment and Jobs Act (IIJA) are a positive development that demonstrate the U.S. Treasury’s commitment to understanding the crypto ecosystem, according to a former senior IRS official.
The regulations provide definitions for digital assets and digital asset brokers and explain the information that brokers will need to supply to the IRS. This includes details on purchases, sales, gains, losses, and income related to digital asset transactions.
