Digital Asset Reporting Changes: Who Must Report Transactions?
This bill clarifies who is considered a "broker" for reporting digital asset transactions to the tax authorities. It aims to define reporting obligations for individuals and companies dealing with cryptocurrencies, so citizens understand who is responsible for providing information about their transactions.
Key points
The definition of "broker" has been revised to clearly state who must report digital asset transactions.
Individuals solely validating transactions (e.g., crypto miners) or selling hardware/software for private key management are not considered brokers.
The changes are effective retroactively, as if included in the earlier infrastructure act.
Status:
Expired
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