IRS Issues New Notice That Eases Burden for CeFi Crypto Investors
The United States Internal Revenue Service (IRS) has introduced a temporary relief measure to address potential tax challenges for cryptocurrency holders using centralized finance (CeFi) brokers in 2025.
As explained by Shehan Chandrasekera, Head of Tax Strategy at CoinTracker, the relief mitigates complications stemming from the implementation of Section 6045 custodial broker regulations, which take effect on January 1, 2025.
IRS Crypto Relief
These regulations require centralized finance (CeFi) brokers to report cryptocurrency transactions and apply specific accounting methods for asset sales, as per Chandrasekera’s tweet.
If holders do not choose a preferred accounting method – such as Highest In, First Out…
