IRS proposal would allow crypto exchanges like Coinbase to mandate electronic 1099-DA tax forms

The Internal Revenue Service has proposed a rule that would let crypto brokers such as Coinbase and Kraken require customers to receive Form 1099-DA tax statements electronically rather than on paper. Starting this year, these platforms must report both gross proceeds and cost basis for digital asset sales, giving the IRS more detailed information on users' gains and losses and potentially tightening compliance oversight.