The IRS is introducing the new 1099-DA form to track crypto trades like stock sales. Crypto traders must report cost basis for each exchange or wallet, making cryptocurrencies more appealing to institutional investors. Starting in 2025, all crypto brokers must issue this form to record trades and disposals. Another change requires reporting cost basis for assets held across different wallets and exchanges. While these rules may frustrate investors, they indicate a long-term future for cryptocurrencies. Consider investing in cryptocurrency ETFs for exposure without dealing with specific reporting requirements. Ignore the hype and explore other investment opportunities.

Read more at Nasdaq: 2 Cryptocurrency Tax Rule Changes Going Into Effect in 2026