The IRS Implements New Digital Asset Reporting Standard to Combat Tax Evasion

BlockBeats News, April 15th. According to financefeeds, the U.S. Internal Revenue Service (IRS) officially implemented mandatory cost basis reporting rules for digital asset brokers on April 15, 2026, applicable to centralized exchanges, custodial wallet service providers, and some digital asset custodians.

Under the new rules, relevant parties are required to submit Form 1099-DA to the IRS and taxpayers, documenting the sale and exchange of digital assets. The report states that the IRS's move aims to reduce underreporting of digital asset capital gains and encourage alignment of cryptocurrency tax reporting standards with traditional securities. For investors, it will be necessary to more accurately preserve the purchase price, time, and on-chain transaction records of each token in the future.