Congress Moves to Overturn Digital Asset Broker Reporting Rule: What Are the Implications for Businesses?

By Aprio Publisher | March 31, 2025
Congress Moves to Overturn Digital Asset Broker Reporting Rule: What Are the Implications for Businesses?

At a glance Schedule a consultation The full story: A rule titled “Gross Proceeds Reporting by Brokers that Regularly Provide Services Effectuating Digital Asset Sales” is set to be overturned following bipartisan passage of disapproval resolutions in both the House of Representatives and the Senate. The move, undertaken under the Congressional Review Act (CRA), seeks…

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Overview of Rev. Proc. 2024-28: What Digital Asset Users Need to Know

By Aprio Publisher | December 11, 2024
Binary code abstract background with US $100 dollar banknotes. Can illustrate the concept of digital money transfer, global finance, e-commerce, financial security, digital currency, etc.

At a Glance Schedule a consultation The Full Story The IRS has issued critical guidance on Rev. Proc. 2024-28 for taxpayers that addresses the shift from prior practices—such as applying first-in-first-out (FIFO) universally or using multi-wallet approaches—to the updated rules requiring basis methods to be applied at a more granular level via wallet or account.…

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