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ARTICLE · 01 FEBRUARY 2024

ABA Tax Section Comments On Proposed Crypto Broker Reporting Regulations

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As discussed here, the New York State Bar Association Tax Section also recently provided comments and recommendations on the same regulations.

United StatesTechnology
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On December 20th, 2023, the American Bar Association Tax Section published detailed comments and recommendations (the "ABA Comments") on the proposed crypto broker reporting regulations. As discussed here, the New York State Bar Association Tax Section also recently provided comments and recommendations on the same regulations. These proposed regulations elaborate on the 2021 changes to the Internal Revenue Code that expanded the definition of broker to include "any person who (for consideration) is responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person," and are discussed in detail here.

The ABA Comments recommend:

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