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Potential Scenarios as the U.S. Contemplates Crypto Tax Regulations

Mike Ring
November 16, 2023

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The U.S. Internal Revenue Service (IRS) has a public hearing slated on Monday about proposed regulations for digital asset transactions. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses what to expect, along with some of the concerns about the framework, which includes user privacy.

Over 120,000 comments have come in regarding an IRS proposal that maps out how crypto brokers and investors would report transactions to the agency. Kirk Phillips, who is the founder of educational site cryptobullseye.zone, joins “First Mover” as part of CoinDesk’s Tax Week 2023. Phillips discusses his reaction to the hearing and why he thinks the 6045 digital asset broker regulations could greatly increase the cost of filing crypto taxes.

For expert assistance in managing your crypto tax obligations and to experience the peace of mind that comes with precise tax filing, don’t forget to explore our cutting-edge crypto tax preparation service. Your financial clarity and confidence start here.

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