The U.S. Treasury and the IRS have released a proposal regarding the regulation of cryptocurrency brokers

ChainCatcher news, according to Cointelegraph, the U.S. Treasury and the IRS have released a set of proposals regarding cryptocurrency regulation, detailing the reporting requirements for "digital asset intermediaries."

The proposed regulations will require digital asset brokers, including trading platforms, payment processors, and certain custodial wallet providers, to report the total revenue from all sales or transactions of digital assets starting January 1, 2025.

Brokers referred to as "digital asset intermediaries" in the regulatory proposal will also be required to provide information on the gains and losses incurred during the sale of crypto assets, with this requirement taking effect on or after January 1, 2026.