Congress’s Crypto Tax Proposal Makes Perfect Sense

In the realm of crypto, 1099s are rare. The rules were written before digital assets existed, and traditional brokers often aren’t even involved. Trading occurs through a panoply of venues, including exchanges such as Coinbase and Kraken, providers of electronic “wallets” and automated protocols in the nether realm of decentralized finance. It’s hard for investors, let alone the IRS, to keep track of gains and losses.