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The world is being quietly rearranged by people who write very long documents.

Federal Register · July 11, 2025
The title they went with Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales Noisy translates that to

Congress just killed a rule requiring crypto brokers to report sales to the IRS

What happened
Congress and the President have officially removed a rule that would have required brokers to report digital asset sales to the IRS. This means that for now, crypto brokers do not have to tell the government about their customers' sales.
Why it matters
The US Treasury and IRS had tried to make it easier to track digital asset transactions for tax purposes. This rule would have brought crypto reporting in line with how traditional stock and bond sales are handled. Its removal means the crypto industry avoids a major compliance burden, and the IRS loses a tool for collecting taxes on digital asset gains.
The signal
Watch for new legislative efforts or different regulatory approaches from the Treasury and IRS to address digital asset reporting, or if the crypto industry develops voluntary reporting standards.
If you insist
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