According to CoinDesk, in late January, the crypto tax platform Awaken Tax surveyed 1,000 U.S. digital asset investors and found that more than half of respondents were concerned about facing penalties from the Internal Revenue Service (IRS) due to new tax transparency rules. The new rules require crypto exchanges such as Coinbase to submit Form 1099-DA, "Proceeds from Broker Transactions in Digital Assets," to the IRS this week, marking a formal shift from self-reporting to an automated reporting system for crypto assets. The新规 aims to combat crypto tax evasion by enabling the IRS to cross-reference broker-reported data with taxpayer filings through access to exchange customer data.
Survey Shows Over Half of U.S. Crypto Holders Fear IRS Penalties Amid New 1099-DA Reporting Rules
TechFlowShare
Summary
A new survey by Awaken Tax in late January 2026 shows that over half of 1,000 U.S. crypto investors fear IRS penalties under new cryptocurrency regulations. The IRS now receives Form 1099-DA directly from exchanges like Coinbase, replacing self-reporting. This change aims to reduce tax evasion by matching broker data with tax returns. While new token listings continue to attract attention, regulatory pressure is increasing.
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