PRESS RELEASE. Crypto changes quickly, with new tax laws and regulations coming to several countries in 2022, impacting how people need to report their crypto gains on taxes.
New regulations in the US are a hot discussion topic among crypto investors, with a bill coming to fruition severely increasing the reporting needs for crypto brokers and traders.
Beyond the increased regulation, new investment vehicles in crypto also spark doubts on traders on how to incorporate them into their local tax regimes.
CoinTracking is here to cover the top 5 crypto tax changes to be aware of in 2022 and onward:
More reporting for crypto brokers with the new 1099-B requirements
The Infrastructure Investment and Jobs Act of 2021 (IIJA) of Nov. 15, 2021, requires cryptocurrency exchanges to report crypto transactions on form 1099 starting in 2023. This change requires crypto brokers to issue a tax report with all the individual trades that users conducted, including information such as sales proceeds a
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