ChainCatcher news, according to CNN, the Internal Revenue Service (IRS) of the United States has announced that starting in 2025, a third-party reporting system for cryptocurrency transactions will be implemented. Centralized trading platforms such as Coinbase and Gemini will be required to report users' cryptocurrency transaction information to the tax authorities for the first time using the newly established 1099-DA form.According to the regulations, custodial trading platforms, digital asset wallet providers, cryptocurrency ATM operators, and digital asset payment processors must track and record users' buy and sell transactions throughout the year and submit reports to users and the IRS in early 2026.The specific implementation timeline shows that the reporting of cryptocurrency cost basis (purchase price) information will begin in 2026; reporting of peer-to-peer transactions on decentralized platforms (such as Uniswap and Sushiswap) will be postponed until 2027, but only the total transaction amount needs to be reported. Newly listed Bitcoin spot ETF transactions will also be reported using the 1099-B or 1099-DA forms, including share transactions and taxable events generated within the fund.