Crypto Trades by Americans Through Centralized Exchanges to be Reported to the Internal Revenue Service. What effect would this have?

[King Belieal]

Within the first quarter of 2025, centralized crypto exchanges operating in America are to report trading activities within their platforms to the American Internal Revenue Service. This is a primary move in seeing crypto activities being taxed.

What effect would this have on the adoption of crypto into mainstream?

 

[Suba]

All crypto transactions, whether buying/selling or even trading ETFs, will be reported to the IRS, but this is not a new regulation, just to ensure crypto users pay their taxes. So the impact of exchange reporting to the IRS will not be significant.