IRS Floats Optional Crypto Broker E-Statement Consent Method (1)

The IRS on Thursday proposed a way to allow digital asset brokers to obtain consent from customers to provide electronic statements of information reported to the tax agency.

The proposed regulations (RIN 1545-BR47, REG-105064-25) would provide crypto-asset brokers an optional consent-approval process that drops the requirement to provide a paper alternative if a customer doesn’t consent for an electronic statement.

“The Treasury Department and IRS acknowledge that the cost of printing and mailing paper 1099-DA statements may be unnecessarily burdensome for brokers because of the large number of digital asset transactions that some customers engage in each year,” the agencies ...