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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 Top Cryptos to Watch Now With Real-World Utility & Upcoming Upgrades: BlockDAG, SOL, XRP & AVAX!

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22 hours ago

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July 30, 2025

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With markets moving sideways and expectations building for the next big breakout, attention has turned to the projects demonstrating real traction, those that combine strong user activity, active development, and increasing backing from major players. In 2025, utility and scalability matter more than just marketing claims or speculative hype.

This review of the top cryptos to watch now focuses on four assets making substantial progress. Each project has notable achievements in adoption, infrastructure, or institutional interest. From top Layer 1 chains like Solana and Avalanche to the fast-rising BlockDAG, this selection reflects the cryptos showing strength where it counts.

Here’s a breakdown of the top cryptos to watch now and why they are catching serious attention this year.

  1. BlockDAG (BDAG): Massive Presale Surge and Expanding Ecosystem

Among the top cryptos to watch now, BlockDAG (BDAG) leads with one of the most successful presale performances to date. It has secured $355 million in funding and sold over 24.4 billion BDAG coins. This project isn’t just promising, it’s already delivering results through its growing ecosystem and community engagement.

Currently priced at $0.0016 in batch 29, this rate is valid until August 11th. The confirmed listing price of $0.05 indicates a potential 3,025% return. More notably, BlockDAG’s No Vesting Pass ensures that every coin bought now will be fully unlocked at launch, giving users immediate access to their holdings.

The adoption metrics support its rapid rise. More than 2.5 million people actively mine BDAG using the X1 mobile app, while 18,000 units of the X10 miner have already been sold. The development front is also progressing fast, with over 4,500 developers contributing to 300+ real-world applications across sectors like AI, DeFi, and services.

BlockDAG combines a hybrid Proof-of-Work and DAG structure, offering high scalability and decentralization. With a clear use case, live product engagement, and early users seeing 2,660% growth since batch 1, it remains one of the top cryptos to watch now.

  1. Solana (SOL): Backed by ETFs and Whale Accumulation

Solana maintains its position among the top cryptos to watch now, thanks to rising interest from institutions. The price has moved past $180, supported by significant buying from large holders and new ETF activity. The REX-Osprey spot ETF saw a single-day inflow of $1.4 million, with total inflows crossing $120 million.

From a technical viewpoint, Solana is forming a bullish inverse head-and-shoulders chart pattern, with expectations of a push toward $220. One major buy, involving 73,500 SOL worth about $13.8 million, shows that whale interest continues to climb.

Solana’s strengths lie in its fast network and expanding on-chain features. Its infrastructure supports NFT projects and DeFi platforms with high speed and low costs, something Ethereum still struggles to match. In a time when speed and affordability are top priorities, Solana’s growing traction puts it high on the list of top cryptos to watch now.

  1. XRP (Ripple): Holding Strong Despite Legal and ETF Delays

XRP continues to generate debate but still holds a firm place among the top cryptos to watch now. Despite a 9% weekly dip, XRP shows signs of support from large capital sources.

Currently trading in the $3.17–$3.18 range, XRP commands a market cap of $190 billion and sees $4 billion in daily volume. Around 100 firms managing over $43 billion in combined assets have reportedly added XRP to their balance sheets for diversification.

While legal and ETF approval delays remain concerns, XRP’s function as a cross-border liquidity solution remains intact. Its ability to serve global payment corridors gives it long-term use, even if short-term price swings remain.

Until the $3.60 level is regained on strong volume, volatility could continue. Still, long-term holders remain focused on its role in future payment systems, keeping XRP on the radar as one of the top cryptos to watch now.

  1.  Avalanche (AVAX): Real-World Adoption and Modular Growth

Avalanche earns its spot on the list of top cryptos to watch now due to its ongoing focus on practical use cases and institutional involvement. Trading around $24.90, AVAX has held its ground even during broader market pullbacks, with support showing strength near the $25 zone.

What’s pushing Avalanche forward is its work on tokenization and AI deployment. Recent launches include the Youmio AI-agent Layer 1 project and tokenized real estate applications in New Jersey. These ventures underline the network’s strategy of blending digital infrastructure with real-world relevance.

Avalanche’s $10.5 billion market cap and over $620 million in daily trading volume show it’s still active. Its unique subnet model is attracting new developers, and the network’s recovery in usage shows it’s on solid footing. As institutional partnerships increase, Avalanche remains one of the top cryptos to watch now.

Final Take!

Spotting the top cryptos to buy now requires more than tracking hype; it means reviewing real traction, consistent adoption, and solid fundamentals. The market may be unpredictable, but these four names show staying power.

BlockDAG is gaining rapid attention with a locked presale price of $0.0016 and massive utility through its mining apps and developer base. Solana is making ETF headlines while showing bullish price indicators. XRP retains long-term holders as it continues pushing its remittance-focused goals. Avalanche is building real-world solutions through AI and asset tokenization.

All four projects represent different strengths, but each gives users something worth following. In a shifting market, staying informed on the top cryptos to watch now can make a major difference in outcomes.

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BlockDAG Turns Code into Real-World Impact With 4,500+ Builders! Hyperliquid Slides & DOGE Drops Over 11%

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4 days ago

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July 27, 2025

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Market activity is marked by sharp swings this week. The Hyperliquid (HYPE) price analysis shows a 2.39% decline, influenced by Coinbase’s debut of regulated futures contracts, shaking HYPE’s stronghold. Simultaneously, Dogecoin (DOGE) saw an 11% loss, triggering bearish discussions among analysts and traders.

Both developments reveal how quickly market sentiment shifts when trendlines falter and liquidity rotates. While discussions continue around chart patterns and resistance levels, a more pressing question remains: what’s the best crypto to buy now?

For many, attention has shifted from short-lived spikes to long-term ecosystems that build real value. BlockDAG (BDAG) stands out here, having raised over $353 million, selling 24.3 billion coins, and supporting 300+ active Web3 projects created by a thriving community of more than 4,500 developers.

Hyperliquid (HYPE) Price Analysis: Bearish Momentum Leads to 2.39% Decline

Hyperliquid (HYPE) dropped 2.39% in the last 24 hours, trading around $42.83, as bearish sentiment intensified. This followed Coinbase’s announcement of launching U.S.-regulated perpetual futures on July 24, which challenges HYPE’s position as a decentralized leader with monthly volumes of $249 billion.

Momentum indicators are flashing weakness, the MACD has crossed below the signal line, and the asset has moved under both its 7-day SMA and EMA. Meanwhile, the total crypto market cap contracted by 1.36%, and BTC dominance rose, redirecting capital from smaller assets like HYPE.

Dogecoin (DOGE) Price Drop: 11% Loss Fuels Bearish Outlook

Dogecoin (DOGE) experienced an 11% drop between July 23 and 24, falling from $0.26 to $0.24 amid rising sell-offs by large holders. Trading volumes surged beyond 2.26 billion DOGE, marking one of July’s busiest sessions.

DOGE briefly bounced at $0.23 but failed to reclaim $0.25, showing signs of further potential weakness. Charts now show $0.23 as a critical level, with a risk of falling to $0.21. Analysts link the decline to trendline breaks, macro uncertainty, and significant profit-taking, which are together pushing DOGE into short-term bearish territory.

Over 4,500 Builders and 300+ Projects Power BlockDAG’s Growth

A key factor behind BlockDAG’s momentum is its expanding developer network, now boasting over 4,500 builders contributing to 300+ active Web3 applications. These include platforms for DeFi, AI, and real-world tools, all designed to bring practical use cases beyond speculation.

This surge in participation is further driven by partnerships like the ongoing hackathon series with HackerEarth, drawing leading minds into BDAG’s ecosystem built for scalability and performance.

BlockDAG’s strength lies in this growing technical foundation. With over $353 million secured in crypto presale funds and 24.3 billion BDAG coins already sold, the momentum is gaining speed. The special batch 29 rate of $0.0016 remains available until August 11, providing a prime chance for new buyers. At its projected launch price of $0.05, those who enter now are set for a 3,025% ROI. Early buyers have already seen 2,660% growth in their funds since batch 1.

In the mining space, BlockDAG is also advancing rapidly. With $7.6 million in miner sales and 18,650 devices purchased, the X1 and X10 devices demonstrated their combined efficiency in a recently completed live event. The pairing proved to significantly boost mining power, which aligns with BDAG’s broader adoption drive.

As enthusiasm rises, the community of over 200,000 holders shows that this is more than just a presale. It’s a full-scale build-out backed by results. With technical readiness and market traction, BDAG is increasingly being viewed as the best crypto to buy now.

To Sum Up!

While the Hyperliquid (HYPE) price analysis shows clear downside pressure and the Dogecoin (DOGE) price drop adds to concerns, both assets seem tied to immediate market cycles. BlockDAG, however, is building for the long term.

With over $353 million raised, 24.3 billion coins sold, 4,500+ builders engaged, and 300+ projects already functional, BlockDAG is rapidly shaping up as a major player. The presale price of $0.0016, valid until August 11, offers a huge upside, projecting a 3,025% return. Unlike others waiting for signs of reversal, BlockDAG is already showing strong progress toward global adoption.

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

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SHHEIKH Token Explodes in Just 2 Weeks — $3M+ Raised and Climbing

Published

4 days ago

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July 26, 2025

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The Next Ripple or Solana? Investors Say Yes.Predicted to Outgain Ripple (XRP) and Solana (SOL), SHHEIKH Coin (SHHEIKH) Plots for $0.2 Mark from Below $0.0027

Ripple (XRP) and Solana (SOL) have both made significant moves in the recent bull market. Still, crypto analysts and early presale buyers are beginning to rally around a very different name: SHHEIKH Coin (SHHEIKH).  Priced under $0.0027 during its presale phase 1, this AI-driven RWA project is not only making headlines but is now plotting a realistic path toward the $0.2 mark. This move would eclipse the percentage gains of many blue-chip cryptos combined.

SHHEIKH is no longer just a presale — it’s a movement.

In just 14 days, SHHEIKH Token has stormed the crypto charts with a +75% price surge, raising over $3 million and over 1.2 Billion tokens sold in Phase 1 alone. With the token still priced at a floor-level $0.0027, early investors are already sitting on serious gains — and the next phase is about to send it higher.

This is what the early days of Bitcoin felt like. Or Solana before its breakout.
SHHEIKH is being hailed by top crypto VCs, whales, and DeFi pioneers as the next big wave in Web3 wealth.

The Presale Is Booming — But Time’s Running Out

  • 75% Growth in over 2 Weeks
  • $3M+ Raised
  • 1,040,000,000 Tokens Sold
  • 5,600+ Investors Onboarded
  • Minimum Entry: Just $1 in USDT, ETH, or BNB
  • 15% projected APY on fractional luxury assets
  • Projected ROI: Up to 7.6x for early adopters
  • Passive income in stablecoins or ETH
  • Bonus: Up to 5% rewards for early investors
  • Backed by real-world assets + AI-powered analytics
  • Next Price Hike in Phase 2 Is Imminent

Early SHHEIKH backers have already locked in up to 7.6x projected ROI — and that’s before the first CEX listing, before the asset marketplace opens, and before the ecosystem goes fully live.

What Makes SHHEIKH Different?

SHHEIKH isn’t a memecoin. It’s a real-world wealth engine — tokenizing luxury villas in Dubai, farmland in Texas, vacation homes in Lisbon, beach properties in Bali, Rolls-Royce collections, and even fine art.

For a little, investors can co-own premium assets and earn passive income from rent and appreciation — all backed by real assets and governed by AI.

With very low entry barriers, investors can co-own:

  • Villas in Dubai, vacation homes in Lisbon
  • Farmland in Texas, condos in Prague
  • Beach homes in Bali and even Rolls-Royce collections
  • And more

“SHHEIKH is breaking the gates of exclusive wealth. The 1% don’t like it. The rest of the world loves it.”

AI Meets Real Estate. Welcome to the New Wealth Standard.

SHHEIKH’s Ethereum-based token ecosystem uses proprietary AI to:

  • Predict asset yield and market appreciation
  • Score risk in real time
  • Auto-optimize crypto + real-world portfolios
  • Distribute income in ETH or stablecoins — fully automated via smart contracts

This is borderless, 24/7, institutional-grade investing — reimagined for the everyday investor.

Ecosystem Overview

  • SHHEIKH Estate: Co-own tokenized real estate and earn rental yields
  • Returns Maximizer: AI-enhanced passive income tool for crypto holdings
  • No-Code Builder: Tokenize any luxury asset — no dev needed
  • DeFi Bridge: Seamlessly swap across chains

Audited, Compliant & Non-Custodial

  • Smart Contracts Audited (Q2 2025)
  • KYC/AML in 15+ jurisdictions
  • Compatible with MetaMask, Trust Wallet
  • Fully Non-Custodial. User Holds the Keys.
  • NFT-Backed Legal Deeds & DAO Syndication

The Bigger Picture

In 2025, Real World Asset (RWA) tokenization exploded +260%, reaching $23.9B, according to Forbes. BCG forecasts $16 trillion in RWAs by 2030.

SHHEIKH isn’t riding this wave — it’s creating it.

Final Word: Don’t Miss Your Moment

SHHEIKH isn’t promising the moon. It’s offering the keys to the mansion, beach villa, and art gallery.

With Phase 1 almost sold out and Phase 2 price jump approaching, this is your final early window to invest before the market fully wakes up.

Be early. Be bold. Be a SHHEIKH.

Join the Movement

Website: https://www.shheikh.io
Whitepaper: https://www.shheikh.io/shheikh-whitepaper.pdf
Telegram: https://t.me/shheikhtoken
Twitter (X): @ShheikhToken

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