Deniz 
For crypto brokerage accounts, the United States Internal Revenue Service (IRS) has revised the draft of its Form 1099-DA for taxes.
Ji Kim, Head of Global Policy, Digital Assets, and General Counsel at the Crypto Council for Innovation, said on the social networking platform X, “As a refresher, this is the form that ‘brokers’ will start using in 2025 to report digital asset transactions to customers. Initial evaluation shows that, among other things, wallet addresses, transaction IDs, and time gained were eliminated from this draft form. These are significant adjustments.
With its updated Aug. 8 draft, Form 1099-DA, which tracks “digital asset proceeds from broker transactions,” is scheduled to go at least partially into force in 2025.
First suggested in August 2023 by the IRS and the U.S. Department of the Treasury, the crypto brokerage taxation form Early forms of the form needed filers to note if assets are “non-covered security” and to provide a digital wallet address. But members of the crypto sector expressed privacy issues in addition to how the tax reporting would impact the distributed finance sector.
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