IRS Delays Crypto Tax Rules as BlackRock Joins Stablecoin Race

IRS delays new crypto tax cost basis rules to December 2026. BlackRock-backed stablecoin receives approval for Frax Finance’s FRX USD. The crypto market shows early signs of recovery in 2025, with Bitcoin and altcoins soaring. The Internal Revenue Service (IRS) has announced a delay in enforcing new crypto cost-basis reporting rules, pushing the start date to December 31, 2026. This gives brokers more time to adapt to the new regulations. In a recent Thinking Crypto podcast, host Tony Edward analyzed how the rules would have required centralized crypto platforms to provide detailed tax accounting for cryptocurrency transactions. The delay comes after brokers and platforms requested additional time to adjust to the complex regulatory changes. These changes were initially set to begin at the end of 2024. This decision offers temporary relief to crypto investors and platforms, many of whom were rushing to meet the original deadline. BlackRock Backs New Stablecoin During the podcast, Edward also highlighted a critical update for the crypto market involving trillion-dollar asset manager BlackRock. He noted that BlackRock’s tokenized money market fund,… The post IRS Delays Crypto Tax Rules as BlackRock Joins Stablecoin Race appeared first on Coin Edition .