- IRS Draft Targets Unhosted Crypto Wallets: The IRS has unveiled a draft for the new 1099-DA form, focusing on unhosted crypto wallets, a move sparking privacy and security concerns in the crypto community. The form requires brokers to report transaction IDs and wallet addresses, raising data privacy issues, with exceptions for internal transactions. This effort, part of the Infrastructure Act’s broader crypto regulation, is open for a 60-day public comment period, marking a significant step towards integrating cryptocurrency transactions within the taxable landscape. Critics highlight challenges in enforcing such measures, emphasizing the need for a balance between regulation and the growth of the decentralized finance sector..
