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

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

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.
Crypto
Top-Trending Cryptos to Buy in 2025: BlockDAG, Chainlink, VeChain, & PENGU Are Heating Up

In 2025, the crypto scene is crowded, but a handful of projects are genuinely cutting through the noise. These are the ones with strong fundamentals, fast-growing communities, and strategies designed to increase their market value. Some are gaining traction through powerful technology, others with major presale runs, enterprise adoption, or breakout setups. Together, they’re catching the eye of both traders and long-term holders.
If you’re scanning the market for the top-trending cryptos to buy this year, four names stand out: BlockDAG, Chainlink (LINK), VeChain (VET), and Pudgy Penguins (PENGU). Each of them has momentum, backed by numbers and progress that can’t be ignored. Here’s why they’re drawing so much attention and why they could deserve a spot in your portfolio.
1. BlockDAG: A Presale Story That Keeps Growing
BlockDAG has quickly become one of the most talked-about projects of 2025. Built on a hybrid Layer-1 framework that blends a Directed Acyclic Graph (DAG) structure with Proof-of-Work (PoW) consensus, plus full EVM compatibility, it combines fast transactions, solid security, and the ability to support diverse dApps. What’s more, it isn’t just theory, the project already has a thriving community and active infrastructure.
Its presale performance has been remarkable. More than $377 million has been raised, with 25.2 billion BDAG coins sold across 29 batches. Early buyers from Batch 1 are already sitting on gains around 2,660%, while even current participants could see an 81% lift if the price hits $0.05 at listing. Analysts believe that targeted exchange listings on platforms like Coinbase and Gemini could help push BlockDAG toward the $1 mark shortly after launch.
The ecosystem is also busy well before its official market debut. Over 2.5 million users are active through the X1 Mobile Miner App, 4,500+ developers are building 300+ dApps, and 19,300+ mining rigs have been sold. With 20 confirmed exchange listings and a strategic U.S. expansion plan, BlockDAG is positioned as one of the top-trending cryptos to buy for serious growth potential in 2025.
2. VeChain (VET): Utility That Works Beyond Hype
VeChain continues to carve out a role as a blockchain with real-world applications. Trading near $0.026, analysts are predicting a potential move toward $0.05 by year-end. Its recent launch of the StarGate staking platform has brought new functionality, letting holders stake VET, mint Delegator NFTs, and earn VTHO rewards. This keeps the community engaged and adds new reasons for participation.
With established partnerships in supply chain tracking, sustainability projects, and enterprise adoption, VeChain offers more than speculation. Messari has described it as “purpose-built for real-world applications,” and that clarity of focus has helped it stay relevant over the years. With steady community support and new staking opportunities, VET looks like one of the top-trending cryptos to buy for those seeking both stability and upside in 2025.
3. Chainlink (LINK): Data Power With Institutional Backing
Chainlink has regained momentum, and its latest moves show growing market confidence. LINK is trading near $23.34 and recently reclaimed the $24 mark for the first time in months, helped by a surge in whale activity worth over $97 million in August. This type of accumulation often points to strong hands entering, reducing volatility and paving the way for larger moves.
The project now secures more than $93 billion in DeFi value, its all-time high, and has expanded into gold and forex data feeds through partnerships like the one with ICE. These kinds of integrations open doors for adoption far beyond crypto-native apps. Analysts are eyeing future runs toward $100+ in upcoming market cycles, which makes LINK more than just stable, it’s growing in influence. For anyone exploring the top-trending cryptos to buy, Chainlink’s utility, adoption, and liquidity put it firmly on the list.
4. Pudgy Penguins (PENGU): NFT Strength With Market Buzz
PENGU is riding the strong cultural momentum of the Pudgy Penguins NFT brand, and its token is showing signs of a breakout. Priced around $0.0362, it recently climbed 15% as NFT assets began appearing in corporate treasuries. Analysts are discussing the possibility of a move to $0.075 if the current trend of higher volume and bullish technicals continues.
There was pressure earlier this summer when insiders sold off $66 million worth of coins, but positive funding rates have since returned. Price consolidation between $0.036 and $0.0385 suggests a buildup phase before another push. On top of that, the community has kept things active, with whale participation in connected presales like Pepe Dollar (PEPD). With its brand exposure and NFT-driven identity, PENGU is making its case as one of the top-trending cryptos to buy, particularly for those willing to play the high-risk, high-reward side of the market.
Identifying the Top-Trending Crypto to Buy
BlockDAG, Chainlink, VeChain, and Pudgy Penguins each bring different strengths, but they share a common thread, momentum supported by real growth. BlockDAG is driving engagement with massive presale success and a path to major exchange listings. Chainlink continues to expand its role in securing real-world data feeds and anchoring DeFi. VeChain stays relevant with enterprise-grade partnerships and staking utility. PENGU, powered by NFTs and cultural branding, offers the kind of speculative upside that draws attention.
If you’re weighing the top-trending cryptos to buy in 2025, these four names present a mix of stability, utility, and breakout potential, covering different risk levels but all with a strong case for growth.
Crypto
$43M Burn vs $378M Raised: PUMP’s Fire and ARB’s Surge Fall Under BlockDAG’s Shadow

Two names have filled charts this week, PUMP and Arbitrum (ARB). Yet in the background, BlockDAG (BDAG) is quietly building a foundation with millions already mining. PUMP caught fire after a giant buyback, and Arbitrum ran higher on key ecosystem resets. Traders may chase green candles, but the long-term story belongs to traction.
BlockDAG has built exactly that. With 2.5 million X1 mobile miners now active, plus a live demo connecting the X1 app with the X10 miner, the project has shown its system works outside theory. It has also secured visibility with sports partnerships that connect BDAG to mainstream audiences.
In a market that often rewards speed, BlockDAG shows the advantage of repeatable growth. PUMP has heat, ARB has tailwinds, but BlockDAG has usage, and usage lasts.
PUMP: Buyback Heat and Market Tension
PUMP jumped about 15% to $0.004020 on nearly $500 million in 24-hour trading volume after Pumpfun carried out an $11.645 million buyback on August 12, its second-largest ever. Hours later, another 175.3M tokens (~$705K) were taken from the market, lifting total repurchases above 7.66B tokens worth over $43M.
The plan is clear: cut supply, build confidence, and ride momentum. Charts back the move. The MACD sits bullish, RSI near 60 shows strength without flashing overbought, and volumes confirm strong interest.
The test is at $0.00420. Break and hold, and eyes turn to $0.00450–$0.00500 with a mid-term path toward $0.00600. Failure risks a fall back to $0.00385 support. Longer-term models show potential near $0.012–$0.015 by 2025. But buybacks alone will not get it there—it needs supportive markets too.
Arbitrum: Recovery Gains and Chart Strength
Arbitrum (ARB) gained over 15% in a day and nearly 40% in a week, now near $0.5464 with $1.45B in daily volume. This rise is tied to repair work and upgrades. GMX’s $44M hack repayment plan restored confidence, while Offchain Labs’ purchase of ZeroDev pointed to a stronger developer base.
Technically, ARB broke above $0.53 (23.6% Fib) and now trades above its key averages, with the 200-day SMA at $0.388 and 7-day EMA at $0.467. This shows momentum has shifted firmly upward.
The RSI sits near 71.6, high but not extreme. First supports are $0.54 and $0.4931. On the upside, watch $0.5828 and $0.60. With a positive MACD histogram (+0.0121), the trend favors buyers. The only brake in the near term could be profit-taking.
BlockDAG: 2.5M X1 Miners, $378M Raised, and Sports Partnerships Driving Growth
While PUMP and ARB spark short-term runs, BlockDAG is shaping a longer play. The project already has 2.5 million X1 mobile users mining daily, proving that BDAG can spread without complex setups or costly rigs. This wide base formed before listing shows the power of easy access.
In July, BlockDAG staged a live demo that linked the X1 app with the X10 miner. It proved that anyone mining on a phone can scale to serious output using Wi-Fi, Bluetooth, or Ethernet. The result is a smooth path from casual to advanced mining.
Visibility is also expanding. Partnerships with the Seattle Seawolves (rugby) and Seattle Orcas (cricket) place BlockDAG in stadiums and on broadcasts worldwide. These deals go beyond branding, weaving BDAG into fan rewards, NFTs, and behind-the-scenes content.
Financially, the results match the reach. The presale has raised over $378 million, with BDAG priced at $0.0276 in Batch 29 ahead of a launch price of $0.05. More than 25.2 billion coins have been sold, alongside over 19,300 miners sold, generating $7.8M in miner sales. Early supporters from Batch 1 are already up 2,660%, showing the strength of the run so far.
By blending mass participation, working demos, sports deals, and miner sales, BlockDAG has built traction most presales only dream of. In contrast to quick rallies, this mix builds staying power.
Final Takeaway
This week’s scoreboard looks like this: PUMP gained fuel from buybacks, Arbitrum restored confidence and broke higher, while BlockDAG proved it has real daily use. PUMP’s key line is $0.00420, ARB’s hurdle is $0.60, and BlockDAG’s numbers speak for themselves: 2.5M miners, $378M raised, 25.2B coins sold, and $7.8M in miner sales.
The difference is clear. PUMP and ARB thrive on momentum and recovery, while BlockDAG grows through habits, reach, and adoption. Mining, watching, and engaging daily is a cycle that repeats even when charts slow down.
In a market where hype fades, the projects that build lasting habits win. That is why the strongest headline may be the quietest: millions showing up daily because the door is open and the next step is simple.
Presale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
Crypto
The Dawn of BlockDAG: Why the Next Great Blockchain Revolution May Already Be Here

When history is written about the evolution of blockchain, much of the focus will be on the early breakthroughs: Bitcoin as the genesis of trustless money, Ethereum as the dawn of programmable contracts, Solana as the speed revolution, and Kaspa as a proof-of-work revivalist. But history also rewards the quiet builders , the ones who work in the shadows, assembling systems that don’t merely compete with incumbents but redefine the very field they enter. BlockDAG (BDAG) may be exactly that kind of entrant.
While most new projects chase attention, BlockDAG is unusual for its lack of spectacle. No daily Twitter battles, no celebrity endorsements, no meme-fueled pumps. Instead, the project has quietly raised over $376 million, amassed a network of 200,000 holders, and onboarded 2.5 million mobile miners before its mainnet has even launched. In an industry fueled by noise, silence can sometimes be the loudest signal of strength.
A Hybrid Architecture Built for Scale
At the heart of BlockDAG is a decision that separates it from nearly every other Layer 1 contender: its hybrid DAG + Proof-of-Work consensus. For years, the DAG model (Directed Acyclic Graph) has promised faster transaction throughput, but struggled with decentralization and security trade-offs. Proof-of-Work, by contrast, has proven its durability through Bitcoin, but is criticized for inefficiency. BlockDAG combines the two into an architecture capable of processing up to 10 blocks per second without the compromises that plague either model in isolation.
This is not just a technical curiosity. The architecture directly translates into market positioning: scalability without sacrificing security, and decentralization with the speed necessary for real-world dApp adoption. In a field littered with compromises, BDAG is betting that it can finally deliver a “have-it-all” Layer 1.
Perhaps the most surprising aspect of BlockDAG’s journey so far is how much of the ecosystem exists before the network has even gone live. Over 4,500 developers are actively building more than 300 dApps in anticipation of launch. The X1 mobile miner app, downloaded by millions, has created a rare phenomenon in crypto: retail adoption before utility. Add in 19,000 ASIC miners sold and deployed, and the result is a project that enters mainnet with both grassroots users and industrial-scale participants already embedded.
This flips the usual script. Most projects launch, list, and then scramble to attract activity. BlockDAG has built activity first, meaning when the switch flips, a living network is already in place.
Presale Power and Institutional Intrigue
The numbers behind BlockDAG’s presale are staggering by industry standards. With Batch 29 priced at $0.0276, investors have already committed more than $376 million. This is not the speculative, meme-driven froth often seen in presales; instead, it resembles the disciplined accumulation of capital from both retail believers and institutional-scale whales.
In fact, the project has mirrored the ethos of early Bitcoin miners: low-profile, high-conviction, and focused on infrastructure rather than headlines. This accumulation strategy generates its own type of FOMO , not the fear of missing the next hype cycle, but the fear of missing a rare, disciplined build. Analysts are beginning to model potential outcomes, with some suggesting a $1 valuation within 12–18 months of listing. From current presale levels, that implies over 35x returns , a figure that is impossible for investors to ignore.
There is a paradox at play. In crypto, hype often equals survival, and projects without noise risk being overlooked. Yet BlockDAG’s refusal to play that game may be its greatest advantage. By resisting the temptation of short-term headlines, the team has preserved optionality, built credibility, and retained focus. Unlike projects that burn through capital to manufacture visibility, BlockDAG has allowed its metrics , capital raised, users onboarded, dApps in development , to serve as its marketing.
That silence has made people talk. Analysts, traders, and rival communities now speculate about BlockDAG’s trajectory, not because of an aggressive PR machine, but because the fundamentals are too large to ignore.
The “Quiet Giant” of L1s
So, what is BlockDAG? It is a network still in its formative stages, yet already boasting a scale of adoption, funding, and technical ambition that places it alongside the sector’s most credible challengers. It is a bet on infrastructure over attention, on execution over spectacle.
In an industry where loud often replaces strong, BlockDAG has made strength out of silence. If momentum continues, the market may soon find that the next great Layer 1 was hiding in plain sight all along. By then, entry prices like today’s may feel like ancient history.
Presale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
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