Final regulations issued by the US Treasury and IRS for digital asset brokers

The U.S. Department of the Treasury and the IRS have published final regulations addressing reporting requirements for digital asset brokers under the bipartisan Infrastructure Investment and Jobs Act (IIJA).

IIJA created reporting requirements, like those already in place for traditional financial services, to help taxpayers file accurate returns and pay taxes owed under applicable law. It did not impose any new taxes on digital assets.

“With the bipartisan Infrastructure Investment and Jobs Act, digital asset investors and the IRS will have better access to the documentation they need to easily file and review their tax returns,” said Acting Deputy Secretary for Tax Policy Aviva Aron-Dine.

The final rules announced on June 28 will require broker-dealers to report gross revenue from sales of digital assets starting in 2026 for all sales in 2025. Brokers will also be required to report tax basis information for certain digital assets starting in 2027 for sales in 2026.

This legislation will ensure that digital asset owners receive the information they need from brokers to file their taxes more accurately and at lower cost, and the IRS will have the information it needs to address tax avoidance risks associated with digital assets.

“By implementing reporting requirements, these final regulations will make it easier for taxpayers to pay the taxes they owe under current law while also reducing tax avoidance by wealthy investors,” Aron-Dine said.

The Treasury Department and the IRS have indicated they expect to issue additional regulations this year to establish reporting requirements for non-custodial brokers consistent with statutory requirements.