CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
Coin Edition 2025-01-03 11:40:00

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 .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.