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High urgency

Crypto Tax Reform Bills Advance in Congress - Binance

Detected July 6, 2026 · in Crypto & DeFi Tax Reporting

Crypto tax reform bills advancing in Congress may introduce new reporting requirements for digital asset transactions, including broker reporting, cost basis rules, and wash sale treatment.

Aforeworn detected this change in the Crypto & DeFi Tax Reporting space on July 6, 2026 and published this briefing so affected operators are forewarned rather than caught off guard. It is rated High urgency. Crypto exchanges, brokers, DeFi protocols, and high-volume traders should confirm how it applies to their specific situation before acting. There is a time constraint attached: Before end of current congressional session (likely 2024-2025). Acting after that point can mean penalties, a lapsed licence, or lost eligibility — exactly the kind of surprise Aforeworn exists to prevent. Aforeworn monitors Crypto & DeFi Tax Reporting continuously and turns every detected change into a plain-English briefing like this one, so you always know first. Forewarned is forearmed.

What changed

Proposed legislation could expand IRS reporting obligations (e.g., 1099-DA), change cost basis methods, and apply wash sale rules to digital assets.

Who it affects

Crypto exchanges, brokers, DeFi protocols, and high-volume traders

What you must do

Monitor bill progress, assess current compliance systems, and prepare for potential new reporting and tax treatment changes.

Deadline

Before end of current congressional session (likely 2024-2025)

Source: https://news.google.com/rss/articles/CBMiZEFVX3lxTE1oMlFHVnN2Ym82cWZwV0hVU0d1dFFSNjNVMm5Fa1BEWDJFVDFFTlRBMGJRX0M4cnRMN1Ywa05fWndKLVVONFlicDFLMUNaV1JoTEViZ19EY09DZFRKSlpjd090SXM?oc=5

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