IRS Receives Cryptocurrency Transaction Reports from Centralised Exchanges

The US Internal Revenue Service (IRS) has started receiving Form 1099-DA reports from centralised exchanges, including Coinbase and Kraken. These reports provide detailed information about cryptocurrency transactions, including gains and losses.

According to estimates, over 200 million disposals will be reported for the 2025 tax year, more than ten times what was visible under self-reporting. This change in reporting requirements may affect millions of taxpayers who traded crypto on these platforms in 2025.