Treasury Confirms Miners Exempt From IRS Reporting Rules

[NFT_QUEEN]

Treasury Confirms Miners Exempt From IRS Reporting Rules

 

The U.S. Treasury Department has provided clarity on the definition of a cryptocurrency "broker."

 

Key Takeaways

 

• Blockchain miners and validators will not be considered "brokers" for crypto tax reporting, the Treasury has confirmed.
• The Treasury stated that it will exempt "ancillary parties" lacking useful tax information.
• The definition of a cryptocurrency "broker" has been a source of concern since the Infrastructure Bill was introduced last year.

 

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