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US IRS Releases Draft of 2025 Digital Asset Reporting Form for US Taxpayers

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1 year ago

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The Internal Revenue Service (IRS) has taken a major step forward in the evolution of taxation of digital assets by releasing a draft of the 2025 Digital Asset Reporting Form for U.S. taxpayers. This initiative is aimed at enhancing compliance and oversight in the rapidly growing digital asset market.

As cryptocurrencies and other digital assets play increasingly prominent roles in the global economy, this new form will be crucial for both taxpayers and the IRS to ensure accurate reporting and fair taxation.

Overview of the 2025 Digital Asset Reporting Form

The Internal Revenue Service (IRS) has taken a major step forward in the evolution of taxation of digital assets by releasing a draft of the 2025 Digital Asset Reporting Form for U.S. taxpayers.
US IRS Releases Draft of 2025 Digital Asset Reporting Form for US Taxpayers 2

Dive into the specifics of the IRS’s newly proposed 2025 Digital Asset Reporting Form, designed to streamline the reporting process for all parties involved in digital asset transactions. We will cover the motivations behind the form, its expected impact, and the key details that taxpayers need to know.

More info here:
https://www.federalregister.gov/d/2023-17565

Key Features of the New Form

The upcoming Digital Asset Reporting Form, the Form 1099-DA, is a response to the increasing integration of digital assets like cryptocurrencies, NFTs, and stablecoins into the mainstream financial ecosystem.

Set to be introduced by the IRS for use in 2025, this form represents a pivotal shift towards standardizing the reporting of digital asset transactions, aligning them more closely with traditional financial reporting mechanisms.

What will be reported on Form 1099-DA?

Form 1099-DA will provide information about the sale or dispose of digital assets. The IRS defines this as cryptocurrencies, NFTs, and stablecoins.

Form 1099-DA will report the same information that is already reported on Form 1099-B for stocks:

  • When you received the digital asset (acquisition date)
  • How much did you pay for it (cost basis)
  • When you sold or swapped it (sale or disposal date)
  • How much money you made by selling or swapping it (sales proceeds)
  • Gross proceeds (total proceeds from that exchange or broker, without taking cost basis into consideration)
  • This will apply to sales made after January 1, 2025, therefore you will receive your first 1099-DA form in January 2026.

Scope and Reporting Requirements:

Under the new regulations, brokers and other intermediaries will be required to report transactions involving digital assets using the Form 1099-DA. This form will capture essential data such as the taxpayer’s name, address, tax identification number, and the gross proceeds from the sale of digital assets.

Significantly, it will also include the adjusted basis of the assets sold, allowing for a more accurate calculation of capital gains or losses.

Standardization of Reporting:

The Form 1099-DA is designed to replace various forms previously used to report digital transactions, such as Forms 1099-B, 1099-K, and 1099-MISC.

This consolidation aims to reduce confusion and improve the accuracy of reported data. The form will facilitate the IRS’s ability to track and tax digital transactions more effectively, mirroring the compliance levels seen with traditional securities​​.

Privacy and Compliance Challenges:

The introduction of Form 1099-DA also raises questions about privacy due to the required reporting of sensitive information such as wallet addresses and blockchain transaction IDs.

Brokers will need to navigate these requirements carefully to protect client information while complying with IRS directives.

Implementation Timeline of the DA-1099 Form:

Brokers must start reporting transactions using the Form 1099-DA for sales of digital assets that occur on or after January 1, 2025. This gives financial institutions and taxpayers time to prepare for the changes, although the final regulations are yet to be issued.

The IRS is currently soliciting comments and feedback on these proposed regulations, indicating that adjustments could still be made based on stakeholder input​​.

These changes underscore the IRS’s commitment to closing the tax gap associated with digital assets by bringing transparency to this rapidly evolving sector. Both taxpayers and brokers should prepare for significant changes in how digital asset transactions are reported, with an eye towards compliance by the 2025 deadline.

Who Needs to File the DA-1099 Form?

The Form 1099-DA is specifically designed for brokers and other intermediaries who facilitate the sale and exchange of digital assets. These entities are responsible for collecting and reporting detailed information about transactions to both the IRS and the involved taxpayers.

Individuals and businesses engaging in digital asset transactions through brokers will see these transactions reported on their behalf​​.

Challenges for Taxpayers:

Taxpayers face several challenges under the new regulations, particularly in terms of compliance and record-keeping.

The requirement to disclose detailed transaction information, including potentially sensitive data like wallet addresses, could raise privacy concerns.

Furthermore, the accuracy of the reported information is crucial as it directly affects tax liability calculations​​.

Mitigating Compliance Risks:

To mitigate these risks, taxpayers should ensure they maintain thorough records of their digital asset transactions.

This includes tracking the acquisition cost, the date of each transaction, and any exchanges or transfers of assets.

Such meticulous record-keeping will be essential for accurately reporting to the IRS and resolving any discrepancies that may arise from broker-reported data​​.

Potential Penalties:

Failure to accurately report digital asset transactions can result in substantial penalties. Taxpayers relying on brokerages to report their transactions must verify that all information is complete and accurate to avoid potential legal and financial penalties.

Regular consultation with tax professionals may be advisable to stay compliant with the evolving regulatory landscape​​.

Final Thoughts and FAQ’s

The release of the IRS Form 1099-DA is a pivotal development in the taxation of digital assets. It reflects the growing recognition of digital assets in the financial system and underscores the IRS’s commitment to ensuring all taxable events are reported and taxed accordingly.

For taxpayers, the form represents both a challenge and an opportunity to align their reporting practices with these new regulatory standards.

FAQs on the 2025 Digital Asset Reporting Form

1. What digital assets qualify for reporting on the new IRS DA-1099 form?
All digital assets that are considered “digital representations of value” and can be recorded on a cryptographically secured distributed ledger qualify for reporting. This includes cryptocurrencies like Bitcoin and Ethereum, stablecoins, and non-fungible tokens (NFTs). The broad scope ensures that any digital asset used in a manner similar to traditional financial instruments is covered​​.

2. Who is required to fill out the 2025 Digital Asset Reporting Form?
Brokers and other financial intermediaries who facilitate the trading, sale, or exchange of digital assets will need to fill out and file Form 1099-DA. This requirement extends to any entity that acts as a middleman in the digital asset market, providing services that effectuate these transactions​​.

3. What are the penalties for non-compliance with the new digital asset reporting requirements?
Non-compliance can result in significant penalties, including fines and legal consequences. These penalties are intended to enforce accurate reporting and compliance with tax obligations. The IRS emphasizes the importance of accurate information reporting to reduce the tax gap related to digital asset transactions​.

4. How can taxpayers prepare for the transition to the new reporting requirements?
Taxpayers should begin by ensuring they have robust systems for record-keeping that can track purchase dates, costs, and details of every transaction involving digital assets. Engaging with tax professionals who are knowledgeable about digital assets and new IRS regulations can also help in preparing for these changes. Regular updates from IRS guidelines will be crucial as the implementation date approaches​.

5. Where can taxpayers find more information and assistance with filling out the form?
Taxpayers can find more information on the IRS website under the digital assets section. Additionally, professional tax advisors familiar with digital asset regulations can provide guidance. Educational resources and webinars are also expected to be available as the implementation date nears, aimed at helping both taxpayers and professionals understand and adapt to the new requirements.

For more specific details or further reading, you might consider checking the official IRS website( IRS.gov) or consulting with tax professionals who specialize in digital assets.

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4 Best Crypto Coins to Buy This Month With Real Utility and Huge Gains: XRP, BNB, LINK, & Web3 ai!

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23 hours ago

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June 29, 2025

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Wondering which are the best crypto coins to buy this month? Web3 ai, XRP, Chainlink, and Binance Coin are showing strong potential with different benefits. Web3 ai has crossed $8.5 million in its presale, moving through Stage 9 with a smart burn strategy and growing user demand. XRP stays near $2.16, building on global payments.

Chainlink, now priced around $13, helps smart contracts get data from the outside world. BNB is trading at $638 and supports Binance’s large network of DeFi apps, NFTs, and more. These coins combine strong features, price levels, and real-world use. Here’s a closer look at what makes them the best crypto coins to buy this month.

1. Web3 ai: Over $8.5M Raised, Smart Burn Design, and Several AI Tools

Web3 ai has collected more than $8.5 million in funding and is currently in Stage 9 of its presale, with a price of $0.000443. The listing price is set at $0.005242, offering a possible return of 1,747%. With nearly 24 billion tokens already sold, interest keeps rising.

The project is creating a full set of AI-based features aimed at improving crypto decision-making. These include a scam checker, a risk evaluator, and portfolio tools, all powered by $WAI tokens. Every time someone uses a feature, some tokens are burned, slowly decreasing the total supply.

The roadmap is already underway, with plans to add API links, SDKs, support for multiple blockchains, and wallet access. While these AI tools haven’t been launched yet, the foundation appears solid, and development is ongoing. With growing presale numbers, a smart design, and useful features in progress, Web3 ai remains one of the best crypto coins to buy this month for long-term AI-based value.

2. XRP: Focused on Global Transfers With More Legal Certainty

XRP stays close to $2.16 and supports fast, low-cost transfers for banks and remittance firms. It has a capped supply of 100 billion tokens, nearly all already in use, which ensures clear token control. A court decision in July 2023 ruled XRP is not a security when sold on exchanges, and in May 2025, the SEC ended its appeal, providing more clarity for U.S. use.

Although Ripple still faces a $125 million fine over past deals with institutions, a settlement delay suggests progress. With fewer legal concerns now, XRP is viewed as one of the best crypto coins to buy this month for its growing real-world use and legal confidence.

3. Chainlink: Brings Outside Data Into Smart Contracts

Chainlink is trading at about $13 and is widely used to bring real-time data like asset prices and events into blockchain apps. It helps with DeFi, insurance, gaming, and more by offering secure, decentralized oracles. The project has also started feeding AI-generated results from multiple models into smart contracts after checking for accuracy.

The supply is limited to 1 billion tokens, and node operators earn rewards through staking. Chainlink is also working on CCIP (Cross-Chain Interoperability Protocol) to allow easier data transfer between blockchains. This makes it one of the best crypto coins to buy this month for those who want essential blockchain tools. Still, new players in the Oracle space could present future challenges.

4. BNB: Used Daily on Binance With Auto-Burn Mechanism

BNB is currently valued at $638 and fuels Binance’s whole ecosystem, including the exchange, smart chain, NFTs, and startup launches. It gives fee discounts, staking options, and governance power. The coin includes an auto-burn feature that slowly lowers its total supply from 200 million over time.

Binance often adds BNB to its latest projects, keeping demand high. As Binance keeps expanding, the use of BNB increases. Though global regulations could affect stability, the coin is still seen as one of the best crypto coins to buy this month due to its use cases and tight connection with one of the largest platforms.

Key Takeaways!

All four coins can be counted among the best crypto coins to buy this month. Web3 ai stands out for its early pricing and focus on AI utility. XRP benefits from its cross-border payment design and improved legal position. Chainlink adds value through reliable data feeds, while BNB supports a large and growing crypto system.

Despite some risks, these projects have different advantages worth noting. Web3 ai’s smart burn system and growing ecosystem make it a strong choice for those watching AI-led crypto progress.

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Top Altcoins To Buy Now: BlockDAG, Filecoin, Hyperliquid, and Chainlink Gain Ground in 2025

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2 days ago

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June 28, 2025

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As the next market cycle unfolds, the spotlight is shifting to altcoins with strong infrastructure and real activity behind the scenes. Instead of chasing price spikes, people are now eyeing projects that build solid systems, attract developers, and show early user growth. 

That’s why the conversation around the top altcoin to buy now is starting to center on names that combine performance with purpose. From DeFi to DePIN to hybrid networks, four names are getting attention, and BlockDAG is one of them.

1. BlockDAG (BDAG)

BlockDAG is making headlines for its early traction. With $324 million raised, over 23.3 billion coins distributed, and more than 200,000 holders, it’s quickly becoming part of the Layer 1 conversation. Built on a hybrid structure that mixes DAG speed with Proof-of-Work strength, BlockDAG (BDAG) can handle up to 15,000 transactions per second and supports Ethereum-compatible applications.

The testnet is already running, and a no-code dApp builder is live. Meanwhile, 2 million people are mining through the X1 App. As plans for 20 exchange listings take shape, BlockDAG is also running a 100 million coin airdrop to bring in users through testing, referrals, and challenges.

A major U.S sponsorship will also be announced on June 30. Right now, BlockDAG is priced at $0.0030, with a launch price of $0.05 confirmed. However, in less than 13 hours, BDAG’s price will jump to $0.0080. That makes it a standout when thinking about the top altcoin to buy now. With 18,200+ ASIC miners sold and plans for over 1,000 dApps by 2026, the project is focused on building from the ground up.

2. Filecoin (FIL)

Filecoin has gained nearly 14% in the last 24 hours, now hovering near $2.35 as broader crypto sentiment turns positive. Although it’s still down for the week, the fundamentals are gradually strengthening. Its decentralized storage model is being used more through platforms like Glif and Bifrost, and more developers are using the Filecoin Virtual Machine (FVM).

While there haven’t been any major upgrades recently, consistent on-chain activity and new integrations point to steady utility. With the market leaning toward real-world use cases, Filecoin’s infrastructure model makes it a reliable choice. For those eyeing data-focused platforms, FIL stands out as a top altcoin to buy now.

3. Hyperliquid (HYPE)

Since April, HYPE has skyrocketed more than 300% and is now consolidating around $35 after a steep pullback. As the leading decentralized perps DEX, it handles 70% of market volume, with 97% of generated fees going toward buybacks, building a strong feedback loop in DeFi economics. Technically, HYPE recently rebounded off the 50-day SMA and climbed above the 20-day EMA, hinting at a possible move back to the $45 range.

Thanks to its powerful protocol design, fee returns, and constant trade volume, Hyperliquid is one of the most active projects. For those focused on DEX-driven momentum, HYPE remains a top altcoin to buy now in the current market.

4. Chainlink (LINK)

Chainlink is holding above $13.30, building strength after recovering from a recent low near $11.50. Although price action has been relatively quiet, on-chain metrics and activity from large holders indicate rising interest. Daily trade volume sits around $370 million, and the project’s development continues, boosted by the Space & Time rewards initiative.

Despite a lack of headline news, Chainlink’s long-term role in powering DeFi with oracle infrastructure keeps it in focus. A break above $13.50 could pave the way to $15 as market conditions improve. For those prioritizing reliability and core services, LINK remains a top altcoin to buy now.

The Bottom Line

The current market is showcasing altcoins that deliver more than hype. Each of these names reflects real progress in their respective areas. Filecoin is helping shape decentralized storage, Hyperliquid dominates DeFi perps, Chainlink continues as a core infrastructure layer, and BlockDAG is gaining attention as a future-focused Layer 1.

For anyone searching for the top altcoin to buy now, this lineup covers a wide range of emerging sectors. Whether it’s storage, DeFi, or core network infrastructure, these projects offer meaningful exposure to where the crypto space is headed next.

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Why Unstaked’s $1M Giveaway and 28x Setup Are Outshining XRP’s Dip and SKY’s $0.10 Hype in June!

Published

2 days ago

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June 28, 2025

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The crypto market is heating up as summer brings renewed energy to altcoins. Among the top names gaining attention are XRP, SKY, and Unstaked, each offering a different angle for traders searching for the crypto about to explode.

XRP is showing signs of weakness as its ratio against Ethereum continues to decline, raising the risk of a broader pullback. SKY, on the other hand, is holding strong near $0.10, with technical indicators hinting at a possible breakout.

But Unstaked ($UNSD) is drawing the strongest interest. With over $10.6 million raised, a $1,000,000 giveaway, and a governance-ready AI platform, it is setting a new standard for presale momentum.

XRP Faces Mounting Pressure as Bearish Pattern Takes Shape

XRP is holding near $2.25 after a modest 4% weekly gain, but signs of a deeper pullback are starting to appear. A rounding top pattern has formed on the XRP versus Ethereum chart, with the XRP to ETH ratio down nearly 40% from its recent peak. The shift suggests market preference is leaning toward Ethereum, fueled by broader institutional usage.

Momentum indicators add to the caution. XRP’s RSI is softening, and the Awesome Oscillator has dropped below zero with an expanding histogram. Key support sits at $2.00, but if it breaks, prices could fall to $1.63. A move above $2.32 would invalidate the setup and open a path toward $2.60.

SKY Price Prediction Strengthens: Resistance Approaches

SKY is trading just below $0.093 while staying comfortably above its rising trendline from early June. Recent price action shows strength, supported by healthy technical signals and sustained volume. The asset is hovering near the top Bollinger Band, a sign of potential breakout behaviour if buying continues.

The RSI is holding around 57, suggesting moderate bullish strength, while the BBP has flipped green with a +0.054 reading. SKY remains above its $0.08863 point of control with a bullish 20, 50, and 100 EMA alignment. If the $0.09478 resistance breaks, analysts expect a run toward $0.10.

Unstaked Ramps Up with $1M Giveaway and Real On-Chain Governance

As XRP struggles with structural pressure and SKY approaches a breakout zone, Unstaked is gaining real traction by focusing on utility, transparency, and early rewards. Now in Stage 22 of its presale, Unstaked is priced at $0.012091 with more than $10.6 million raised and 1.2 billion tokens sold. The confirmed launch price of $0.1819 positions early participants for a 28x return.

What sets Unstaked apart is not just the upside but its five-month $1,000,000 giveaway. This campaign will reward 20 winners with $50,000 each in platform units. Entry is open to anyone completing simple actions such as referrals, social engagement, or participating in the presale. It is designed to strengthen loyalty while onboarding active users into the ecosystem.

At the product level, Unstaked delivers a self-sustaining agent economy. Users can create and control autonomous agents that operate across Telegram, X, and eventually Discord. Every action is tracked and verified using its Proof of Intelligence model, ensuring that performance is tied directly to on-chain data and measurable outcomes.

Beyond technology, Unstaked’s AI crypto presale is also building a governance-first model. From the start, $UNSD holders can vote on future developments and platform direction. This makes Unstaked one of the few presales offering true decentralisation with working mechanics from day one.

What The Future Holds

From Ripple’s technical concerns to SKY’s breakout potential, the market is full of contrasting setups. XRP shows signs of deeper pressure, and SKY needs volume to confirm its next move. These setups offer opportunity, but also come with hesitation.

Unstaked, by comparison, presents a clearer story. With rising user participation, built-in governance, and a $1 million giveaway driving long-term interest, its growth is grounded in action rather than hype. As the market searches for the next crypto about to explode, Unstaked stands out by delivering structure, scalability, and real momentum where it counts.

Join Unstaked Now:

Presale: https://presale.unstaked.com/

Website: https://unstaked.com/

Telegram: https://t.me/UnstakedTokenOfficial

X: https://x.com/unstaked_token

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