The IRS has announced that it will delay the implementation of new tax reporting rules for cryptocurrencies until 2026. This decision aims to provide brokers with additional time to adapt to the revised regulations. The updated rules focus on the calculation of the cost basis for cryptocurrency transactions carried out on centralized platforms, ensuring accurate tax reporting and compliance.
This postponement is seen as a necessary step to ensure brokers and other stakeholders can properly integrate the required changes into their systems, ultimately facilitating smoother compliance with the tax guidelines in the future.
