The US Government is Trying to Kill Crypto | Miller Whitehouse-Levine and Jason Schwartz
Bankless
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Navigating Crypto Taxation Challenges
This chapter explores the intricacies of tax reporting for cryptocurrency, focusing on the role of 1099 forms for brokers and taxpayers. It highlights the broadening definition of 'broker' under U.S. tax regulations and the implications of new rules on digital assets, including NFTs. The discussion addresses the regulatory tensions between traditional finance and the decentralized nature of cryptocurrency, raising concerns about overreach and compliance burdens for participants in the crypto space.
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