Connect with us

Crypto

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

Published

1 year ago

on

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.

Follow us on google news
Related Topics:
Continue Reading

Crypto

XRP Battles $3.23, ICP Stuck at $4.89 as BlockDAG Gears Up for Deployment Event With Coinstore

Published

8 hours ago

on

September 10, 2025

By

Crypto charts show some green flashes, but not all projects are keeping pace with the buzz. XRP is battling resistance near $3.23 with strong momentum building. Internet Computer, however, is stuck around $4.89, staying below major moving averages despite hints of oversold activity.

BlockDAG is moving differently. With over $403 million raised, more than 26.1 billion coins sold, and a return of 2900% since Batch 1, it is now stepping into its deployment phase. The big shift is the BDAG Deployment Event in Singapore with Coinstore, which is more than a showpiece. It signals the jump from presale into a live, global ecosystem, placing BlockDAG (BDAG) in a stronger spot than many projects in the crypto forecast.

Singapore Event Countdown: BlockDAG Prepares for Global Stage

BlockDAG’s global rollout has reached its decisive stage, and all focus is now on Singapore. In just 30 days, the BDAG Deployment Event with Coinstore will shift the project from presale talk to a functioning global setup. This is not a basic listing tease or marketing drive. It is the point where BlockDAG steps forward with working tools, a massive community, and a growing distribution channel.

Coinstore’s wide network in Southeast Asia, South Asia, and the Middle East makes this event far more than a launch. It becomes a statement. With over $403 million secured and more than 26.1 billion BDAG already sold, the project has gone well beyond early goals. 

The coin is priced at $0.03 in Batch 30 but can still be secured for only $0.0013 for a limited time. That equals a 2900% ROI since the first batch. Behind those numbers stand 312,000+ holders, 3 million people mining through the X1 app, and more than 19,000 physical miners being delivered worldwide.

Singapore is the clear turning point. Coinstore provides the reach, while BlockDAG supplies the traction. With the Dashboard V4, Explorer, TRADEBDAG, and Academy already running, the groundwork is built.

This event will showcase the entire ecosystem together for the first time, in one of the strongest regions for crypto adoption. For anyone tracking forecasts, this is not just a date on the calendar. It is proof that BlockDAG is already global.

XRP Price Prediction: Aiming to Break $3.23 Resistance

XRP has regained some key levels, giving signs of a sentiment shift. After bouncing from a downward channel, the coin is now holding near $2.80, supported by positive technical indicators. The MACD has turned upward into green territory, while the Money Flow Index points to stronger inflows. These combined signals show rising buyer interest and prepare the ground for a possible breakout.

The big test is the $3.23 resistance. If XRP clears this, the next price levels could be $3.67 and even $4.95, based on chart patterns. At the same time, the MVRV ratio sits around 73%. This means most holders are still under profit levels, reducing selling pressure and giving more room for upward movement.

Internet Computer Price Analysis: Support Holds at $4.65

Internet Computer (ICP) is still under strain, trading close to $4.89. Price movement stays under the 20-day, 50-day, and 200-day moving averages, pointing to weak momentum. As per the current ICP analysis, the RSI at 43.51 shows mild bearish signs without oversold pressure. The MACD remains negative, adding to short-term weakness.

Still, a possible rebound could form as the price touches the lower Bollinger Band near $4.61. This aligns with support at $4.65, which might act as a base if sellers ease off. On the upside, the next hurdles are $6.08 and $6.25, which ICP must break to start a real rally.

The stochastic oscillator is also close to oversold, making some watch for a reversal. For now, ICP trades in a tight zone, waiting for a push either down from support or up toward resistance.

BlockDAG Beyond Charts: Deployment Over Hype

XRP could jump over resistance, and Internet Computer might bounce off its support, but both remain tied to technical moves. BlockDAG, however, is shifting the focus beyond charts. With over $403 million raised, 26.1 billion coins sold, and products already in use, its priority is on deployment, not just speculation.

The Singapore event with Coinstore signals a major step from presale to a global system. While other projects wait for price signals, BlockDAG is already building, reaching 3 million active users and shipping over 19,000 mining devices. In a field often filled with promises, BlockDAG is drawing attention by showing delivery in real time.

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu 

Continue Reading

Crypto

Top New Meme Coins to Invest in This Year: Litecoin and MEW Shine as BullZilla Presale Explodes with 529 Holders

Published

5 days ago

on

September 5, 2025

By

The world of meme coins continues to captivate the crypto community, with new and exciting projects emerging rapidly. If you’re looking for top new meme coins to invest in this year, then Litecoin, Cat in a Dog’s World, and BullZilla should be at the top of your list. Litecoin, a well-established cryptocurrency, is showing strong bullish momentum, continuing to grow as a favorite among meme coin investors. At the same time, Cat in a Dog’s World has gained significant traction, quickly becoming one of the top new meme coins to invest in this year due to its unique branding and community-driven approach. But it’s BullZilla that’s generating the most buzz. With its presale now in full swing, BullZilla is quickly establishing itself as the next 1000x meme coin opportunity. If you want to capitalize on the massive growth potential these coins offer, now is the time to get involved.

BullZilla Presale: The Next 1000x Meme Coin Opportunity

While Litecoin and Cat in a Dog’s World are solid contenders in the meme coin race, it’s BullZilla ($BZIL) that is currently taking the crypto world by storm. With its presale already in full swing, BullZilla is on track to become the next 1000x meme coin opportunity, and the numbers don’t lie.

The BullZilla presale has already raised over $145,308, and 17.6 billion $BZIL tokens have been sold. As it continues to gain momentum, the presale’s unique features and tokenomics are drawing in a growing number of investors. Currently in Stage 1-C, the token is priced at $0.00001908, making it a prime opportunity for those who want to get in early and benefit from the presale’s potential upside.

BullZilla’s tokenomics are designed for long-term growth and engagement. One of the standout features of this project is its HODL Furnace, a staking mechanism that rewards holders with an impressive 70% APY for locking their tokens. This feature, combined with the Roar Burn Mechanism (which reduces token supply over time), sets the stage for a deflationary ecosystem where scarcity increases the token’s value.

BullZilla was forged on Ethereum’s blockchain, benefiting from Ethereum’s robust security, liquidity, and decentralized finance ecosystem. This ensures that $BZIL is built on a solid foundation, offering long-term value for investors. Moreover, Ethereum’s infrastructure supports BullZilla’s advanced features like staking rewards and the Roar Burn Mechanism, creating an environment ripe for growth and profitability.

As the presale progresses, those who join the Bull Zilla presale early will have the chance to capitalize on both the price appreciation and the strong staking rewards. Whether you are a long-term investor or a meme coin enthusiast looking for short-term gains, BullZilla presents an incredible opportunity.

How to Secure Your $BZIL Tokens in Just a Few Simple Steps

Investors can easily participate in the BullZilla presale by following these straightforward steps:

  • Set up your wallet: Start by downloading a reliable Ethereum wallet like MetaMask or Trust Wallet. This wallet will serve as your entry point to the presale.
  • Fund your wallet: Add ETH or USDT to your wallet, ensuring you have enough to cover both the cost of the tokens and the network gas fees.
  • Go to the presale dashboard: Visit BullZilla’s official presale page and connect your wallet.
  • Enter your investment amount: Choose how much you’d like to invest and enter it on the presale dashboard.
  • Confirm your transaction: Approve the transaction in your wallet, and your $BZIL tokens will be locked in at the current presale price.

BullZilla’s presale price increases every time $100,000 is raised or after every 48 hours. Getting in early ensures you’ll receive more tokens for your investment.

Investment Scenario: Investing $1500 in BullZilla’s Presale

Imagine investing $1500 into $BZIL at its presale price of $0.00001908. This would net you approximately 78.6 million $BZIL tokens. As the presale progresses and the price rises with each stage, your investment’s value could see exponential growth.

For example, if the token price rises to $0.0001 (a modest increase), your $1500 investment would be worth $7,860. If the price continues to soar as expected, the potential for returns is massive. Combined with staking rewards, this becomes a truly enticing investment opportunity for those looking to capitalize on the next 1000x meme coin.

Litecoin’s Surge and Growing Momentum

Litecoin has consistently been a leader in the cryptocurrency world, often referred to as the silver to Bitcoin’s gold. As one of the most established and trusted cryptocurrencies, Litecoin has always garnered investor attention. Recently, Litecoin’s fee collection reached a 7-month high, signaling growing momentum. This surge in activity suggests increased usage and higher demand for the coin.

According to reports from FXStreet, Litecoin’s price action has shown strength, with the coin moving upward alongside the broader crypto market. Litecoin’s active participation in the DeFi ecosystem and the growing adoption of its payment network also solidify its position in the crypto space.

Despite its established track record, Litecoin remains a strong contender in the meme coin market as investors look to capitalize on its growing potential. While it has had its peaks and valleys, the bullish momentum around Litecoin is undeniable. Its use as a store of value, combined with the growing number of transactions and the Litecoin network’s strong development team, makes it a reliable and exciting cryptocurrency for the future.

In 2025, Litecoin’s bullish trend could continue to grow, making it a top choice for meme coin enthusiasts who want a mix of reliability and growth potential.

Cat in a Dog’s World: Breaking into the Meme Coin Space

If you’ve been paying attention to the crypto meme coin scene, you’ve probably heard of Cat in a Dog’s World (CITDW). This up-and-coming coin has been making waves in the market, rising to prominence among the most talked-about new meme coins. With a unique branding strategy and a growing online community, Cat in a Dog’s World is emerging as one of the top meme coins to invest in for 2025.

According to CoinMarketCap, the project has rapidly gained traction, with a rising number of social media followers and community engagement. Its quirky name and community-driven narrative have fueled a lot of hype, and the token’s price has seen a steady increase in recent months. Its playful yet disruptive presence in the market has made it a standout in the crowded meme coin space.

As Cat in a Dog’s World continues to evolve, its future looks bright, with potential for exponential growth in the coming months. As more investors pile in, CITDW’s demand is expected to rise, making it a potential candidate for major gains. Cat in a Dog’s World’s charm lies in its ability to combine meme-driven excitement with genuine community-driven value, making it a fun yet potentially profitable choice for investors this year.

Conclusion

The landscape for top new meme coins to invest in this year is filled with exciting opportunities, and Litecoin, Cat in a Dog’s World, and BullZilla are leading the charge. Whether it’s Litecoin’s ongoing bullish momentum, Cat in a Dog’s World’s community-driven growth, or the explosive BullZilla presale, there’s no shortage of promise in these meme coins.

As the BullZilla presale progresses, those who act early have the potential for huge returns, with the added benefit of 70% APY staking and Roar Burn Mechanism deflation. Don’t miss out on this incredible chance to invest in one of the top new meme coins to invest in this year, BullZilla is on its way to becoming the next 1000x meme coin opportunity.

For More Information: 

BZIL Official Website

Join BZIL Telegram Channel

Follow BZIL on X  (Formerly Twitter)

Frequently Asked Questions for $BZIL Presale

What is the HODL Furnace in the BullZilla ecosystem?

The HODL Furnace is BullZilla’s staking system where token holders lock their tokens to earn 70% APY. The longer you stake, the more you earn.

How does BullZilla’s Roar Burn Mechanism work?

The Roar Burn Mechanism reduces the token’s circulating supply with each burn, making the remaining tokens scarcer and potentially increasing their value over time.

What’s the potential ROI for early BullZilla investors?

With the presale price at $0.00001908, early investors stand to see substantial returns as the token price increases during the presale and beyond, especially when factoring in staking rewards.

Glossary

  • Roar Burn Mechanism: A deflationary system where a portion of the token supply is burned, reducing the overall supply to increase scarcity.
  • HODL Furnace: A staking system that rewards token holders with 70% APY for locking their tokens in the BullZilla ecosystem.
  • APY: Annual Percentage Yield; the rate of return on an investment over a year.

ALT Text

top new meme coins to invest in this year, BullZilla, BullZilla Presale, best crypto to buy today, BullZilla next 1000x, Litecoin, Cat in a Dog’s World, 1000x meme coin, Ethereum, BullZilla tokenomics, presale investment

Disclaimer

This article explores the top new meme coins to invest in for 2025, focusing on Litecoin, Cat in a Dog’s World, and BullZilla. Litecoin remains a strong contender, with bullish momentum in the market, while Cat in a Dog’s World is rapidly gaining attention. BullZilla, currently in its presale stage, is positioned for explosive growth, with impressive staking rewards and a deflationary tokenomics system. Investors have the opportunity to join early and potentially achieve substantial returns, with BullZilla offering a 1000x potential return.

Continue Reading

Crypto

Algorand Holds Key Support, Kaspa Delays Smart Contracts, and BlockDAG Raises $395M as Live Features Draw Traders In!

Published

7 days ago

on

September 3, 2025

By

Crypto markets are buzzing with action as new data, delays, and delivery all collide. Algorand (ALGO) is bouncing around inside a pennant formation, awaiting a decisive move while drawing attention from major players like XBTO. Kaspa (KAS) finds itself in the hot seat after postponing its smart contracts, though some believe the delay could benefit the project over time.

However, BlockDAG is making a different kind of noise, one backed by progress. With $395 million already raised, a Batch 30 presale price of $0.03, and real milestones like Dashboard V4, BlockDAG Academy, and the X1/X10 mining demo, the project has moved well beyond speculation. As ALGO and KAS ride market waves, BlockDAG is delivering the kind of consistency and transparency that others are still promising. 

Algorand Sits in Breakout Territory

Algorand (ALGO) currently trades near $0.234, staying just above the key $0.23 support zone. Throughout August, it’s been consolidating within a descending pennant, with overhead resistance set at $0.27 and $0.29. With the apex of this formation expected around mid-September, traders are watching closely for a potential breakout or breakdown that could set the next trend.

Technically, ALGO hovers right below its 20-day EMA of $0.252, while the 200-day EMA provides support at current levels. Its RSI at 43 suggests a neutral stance, room to climb, or room to fall.  On the fundamentals side, a collaboration with XBTO, a strategic market-making firm, adds deeper liquidity and stronger infrastructure, potentially paving the way for more robust trading volume and broader use in USDC settlement flows.

Still, short-term data remains mixed. August 30 saw $358K in net outflows, and unless ALGO crosses $0.25, momentum could stall. If it slips under $0.23, targets as low as $0.21–$0.19 may come into focus.

Kaspa Holds Firm After Delay

Kaspa (KAS) recently delayed its smart contract rollout beyond August, sparking both concern and support from the community. The team explained the delay wasn’t due to issues, but rather a decision to allow for additional testing and better timing. Several analysts, including those from the “Money and I” YouTube channel, believe launching in a stronger market climate could give Kaspa’s features the attention they deserve.

Despite the news, KAS held steady near $0.08, with no major selloff. Even though it’s down 9% over the last 30 days and nearly 50% since last year, Kaspa still boasts a $2.26 billion market cap and remains in the top 50 coins, without even being on Binance or Coinbase yet.

Some call this phase a textbook example of accumulation. Trading volume actually increased post-delay, suggesting buyers see potential down the line. Rather than chasing fast delivery, Kaspa’s focus seems to be on a rollout that’s stable, secure, and well-timed for maximum impact.

$395M Raised: Here’s What BlockDAG’s Built So Far!

While ALGO wrestles with patterns and KAS adjusts its timeline, BlockDAG is pressing forward with full momentum. The project has now raised $391 million, is in Batch 30 at $0.03, and offers a launch price of $0.05. Those who joined in Batch 1 at $0.001 are already sitting on 2,900% gains, and now, for a limited time, the coin is available at just $0.0013 until October 1, for newcomers looking to grab that same kind of upside.

A major highlight is Dashboard V4, which brings a live exchange–style experience to the presale. Users can check real-time charts, track wallet stats, view referral leaderboards, and join leaderboard-based competitions. This isn’t just a sales page, it’s a full-featured interface that simulates post-launch trading and gives users complete visibility into activity and liquidity.

The team didn’t stop there. BlockDAG Academy offers a three-level learning program, complete with on-chain certification, making it easy for users to understand the tech while building real skills. 

And then came the X1 and X10 miner demo, a live showcase that proved how over 3 million users are already using the X1 mobile app, which seamlessly connects to the X10 plug-and-play miner. Together, they’ve made crypto mining possible even for non-tech users. 

From verified tools to educational tracks to real-world demos, BlockDAG is showing that it’s not just raising funds, it’s building a real ecosystem with speed, clarity, and massive engagement.

Looking Ahead

Algorand’s price movement hints at incoming volatility, especially as its pennant formation nears a decision point. Backed by a partnership with XBTO, the project is attempting to build stronger fundamentals alongside a potential breakout. Kaspa’s roadmap tweak brought short-term uncertainty but signaled a long-term focus on quality and timing, not just speed. Both ALGO and KAS show how external factors and delays often shape short-term direction in this space.

BlockDAG, however, is offering something much different: actual delivery. With $391M raised, 25.7 billion coins sold, a Batch 30 price of $0.03, and a limited-time offer of $0.0013, it’s already achieved what most projects are still drafting in pitch decks. The Dashboard V4, BlockDAG Academy, and miner demo weren’t just ideas; they’re now live and functional.

In a year full of market chatter, it’s projects like BlockDAG that separate themselves by turning plans into real progress. Execution is what drives trust, momentum, and adoption, and BlockDAG is checking all the right boxes.

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Continue Reading

Trending