Can the IRS Track Bitcoin? Koinly Explains
Quite a few ways actually, but they mostly revolve around the increasing amount of personal data available surrounding crypto transactions.
As well as this, many other crypto exchanges issue 1099 forms now in order to comply with IRS guidance. Exchanges that issue 1099 forms to users include Binance US, Robinhood, Crypto.com, Celsius, eToro, Gemini and Kraken to name only a few. Your wallet might not be as decentralized as you expect either. Binance owns Trust Wallet, and they’re already embroiled in a legal battle with the IRS over operations in the US.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: