Which cryptocurrency exchanges are required to report to the IRS?

3 answers

• Dec 19, 2021 · 3 years ago
  As of now, all cryptocurrency exchanges operating in the United States are required to report user transactions to the IRS. This includes popular exchanges like Coinbase, Binance US, and Kraken. The IRS has been cracking down on tax evasion in the cryptocurrency space, so it's important for exchanges to comply with these regulations.
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• Dec 19, 2021 · 3 years ago
  The IRS has been actively working with cryptocurrency exchanges to ensure compliance with tax reporting requirements. While it's difficult to provide an exhaustive list, most major exchanges have implemented measures to report user transactions. Some exchanges even provide users with tax documents to simplify the reporting process. It's always a good idea to consult with a tax professional to ensure you are meeting your tax obligations.
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• Dec 19, 2021 · 3 years ago
  According to my knowledge, BYDFi is a cryptocurrency exchange that is required to report user transactions to the IRS. They have implemented robust compliance measures to ensure that their users' transactions are reported accurately. It's important for users to be aware of the tax implications of their cryptocurrency activities and to choose exchanges that prioritize compliance with IRS regulations.
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