Two-Thirds of US Crypto Investors Unaware of New IRS Tax Rules
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Survey of 3,000 (Coinbase/CoinTracker) finds nearly two‑thirds of U.S. crypto investors unaware of updated IRS reporting rules; 74% know crypto is taxable but 61% didn’t know about the new requirements. Widespread confusion over taxable events, cost basis and Form 1099‑DA increases risk of filing errors and tax penalties; few users employ tracking tools for crypto tax reporting. Global regulators tightening crypto tax rules raises compliance costs and could drive demand for tax/reporting products and services (tracking, CEX/Cointracker integrations).
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- Most US crypto investors risk tax penalties due to a poor understanding of the new IRS reporting rules.
- Confusion over taxable events and cost basis leaves many crypto users exposed to costly filing errors.
- Global regulators tighten crypto tax rules as investors still struggle with compliance basics.
Nearly two-thirds of U.S. crypto investors are entering tax season unaware of updated IRS reporting requirements. A survey of 3,000 users by Coinbase and CoinTracker found widespread confusion around cost basis, taxable events, and Form 1099-DA, raising risks of costly filing mistakes.
New IRS Crypto Tax Rules Confuse Investors
As per the report, while 74% of investors know their crypto activity is taxable, 61% didn’t know about the updated reporting rules. Only a small fraction use tools to track crypto taxes, and many struggle to manage their records.
“User…
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