Only 32% to 56% of U.S. crypto holders report transactions

Odaily reported that a research paper published in the academic journal Review of Accounting Studies in March estimates that only 32% to 56% of U.S. cryptocurrency holders report their transactions to the federal government. The IRS requires brokers to send investors Form 1099-DA starting in the 2025 tax year, listing their total digital asset gains. Accountants say that determining the taxes involved in digital asset transactions has always been a complex task, often more difficult than calculating taxes on traditional financial assets such as stocks and bonds.