Brokers must report sale and exchange transactions that take place beginning in calendar year 2025 to be reported on the soon-to-be released Form 1099-DA. 

Brokers that take possession of the digital assets being sold by their customers are required to report. These include operators of custodial digital asset trading platforms, digital asset hosted wallet providers, digital asset kiosks, and processors of digital asset payments

The IRS said most transactions of digital assets are made via these brokers..

The final regulations do not include reporting requirements for brokers—decentralized or non-custodial brokers—that do not take possession of the digital assets being sold or exchanged. 

Also issued were rules for taxpayers to basis, gain, and loss from digital asset transactions, along with backup withholding rules.