IRS

The Blockchain Association Policy Summit 2023 in Washington, D.C., gathered industry leaders and policymakers to discuss the future of crypto regulation, innovation, and market structure, emphasizing a nonpartisan approach and the need for clear regulatory frameworks.

In 2025, the Treasury and IRS have introduced updated reporting rules for digital asset transactions, including new definitions that cover DeFi brokers. While brokers must start reporting basis information in 2026, transitional relief is provided for reporting failures. Additionally, virtual currencies held in foreign accounts are currently exempt from FBAR reporting, though changes may come.