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Tax agencies will double down on crypto before Bitcoin hits $1M

Coin Telegraph LogoCoin Telegraph21h ago

Tax agencies will double down on crypto before Bitcoin hits $1M - Coin Telegraph

Quick Summary:

Agencies like the IRS have already introduced guidance to collect user data from non-custodial brokers, though this has been delayed until 2027. While tracking might be more challenging, and some investors believe their assets are untraceable until they are moved to centralized exchanges, tax authorities are already catching on.

Though automated data sharing with tax agencies might not be as extensive as stock market data, it’s only a matter of time before crypto data from centralized exchanges catches up.

Crypto data isn’t, however, included in the pre-fill. Instead, any activity on a centralized exchange triggers an alert on the taxpayer’s tax return, indicating that the ATO is aware of the crypto activity.

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Article Details

Author / Journalist: Cointelegraph by Robin Singh

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-20 @ 15:00:00 (21 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 678 words

Reading Time: 4 minutes read

Sentences: 35 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27192604

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About Coin Telegraph

Coin Telegraph Logo

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 579 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

Publisher Details

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The story "Tax agencies will double down on crypto before Bitcoin hits $1M" was covered 21 hours ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.

The outlet is headquartered in United States and publishes an average of 579 news stories per day.

It's most recent story was published 8 hours ago.

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  • URL: https://chronographically.beamstart.com/news/tax-agencies-will-double-down-17424830769835

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