Playing the Waiting Game on Crypto Tax Reporting

As previously discussed here, the IRS published guidance in December 2022 effectively postponing the January 1, 2023 effective date for certain digital asset broker reporting rules until final regulations are promulgated. To date, neither finalized nor proposed regulations have been published, and crypto market participants have been forced to ascertain their reporting obligations under existing broker reporting laws and without crypto-specific reporting guidance….
By: Cadwalader, Wickersham & Taft LLP