Overview
On August 3, 2023, Bloomberg Tax quoted Lisa Zarlenga in their piece titled, "IRS Crypto Broker Rules Are Months Overdue: The Delay, Explained." The article presents different reasons why the IRS and Treasury haven't released rules on what crypto brokers have to disclose. Members on both sides of the aisle are demanding answers as to why the Treasury Department and IRS still haven't released proposed rules detailing what customer data cryptocurrency brokers need to share with the federal government.
Some have speculated that the delay can be due to disagreement within the federal government, while others have said that the process for review takes time to comprehend the complex structure of cryptocurrency. Lisa notes "It does seem that whatever the holdup is, it's on the treasury side, not the IRS side. It could have been a policy reason."
Read the full article at Bloomberg Tax (subscription may be required).
