A viral claim about the IRS forcing taxpayers to list cryptocurrency wallets is false. The IRS does not require wallet addresses on Form 1040. The panic was triggered by misinterpretation of Form 9297, a field-office request sent to individuals with tax issues. New cost-basis reporting rules in 2026 do not mandate wallet disclosures.

The incident highlights the confusion surrounding digital assets and privacy concerns. Cryptocurrency advocates criticize federal oversight, even though the viral claim was incorrect. Concerns persist about financial surveillance and potential overreach by federal agencies under new reporting rules. Industry lawyers warn of unprecedented visibility into financial activities if wallet data is broadly requested.

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Read more at Yahoo Finance: No, Bitcoin, Ethereum, XRP Traders Don’t Need To List Their Crypto Wallets For The IRS, But…