Senators Urge IRS to Speed Up Plan to Snag Crypto Tax Cheats

A group of senators led by Democrat Elizabeth Warren and Independent Angus King is pushing US tax officials to move up the start date for crypto brokerages and exchanges to report information on their clients’ transactions to the government.

Proposed regulations released by the Internal Revenue Service and Treasury Department in August would require those firms to begin reporting data on sales and exchanges of digital assets in 2026 — two years later than Congress had intended when it enacted legislation in 2021.

Senator Elizabeth Warren

Photographer: Al Drago/Bloomberg

“We are alarmed by the self-inflicted two-year delay for the rule’s implementation” that will cause the ...