Bloomberg Tax
Feb. 24, 2023, 1:48 PM

Crypto Broker Reporting Rule Leaves White House Review

Erin Slowey
Erin Slowey

The White House ended its review of the proposed rules on reporting requirements for crypto brokers that will be forced to turn over client transactions to the IRS.

The proposed rules (RIN: 1545-BP71) on the reporting requirements for brokers who effect the sale of virtual currency under Section 6045 and brokers who are third-party settlement organizations under section 6050W left the White House Office of Information and Regulatory Affairs on Friday, according to OIRA’s website.

The regulation will provide guidance on the new reporting requirement for brokers that was included in the 2021 infrastructure legislation. ...