The U.S. Internal Revenue Service has postponed new cryptocurrency tax reporting rules until 2026. This delay allows brokers to adjust to regulations for determining cost basis on centralized platforms, giving them a much-needed grace period.

The new rules required using the FIFO method for asset selling, potentially leading to higher capital gains taxes during bull markets. The decision to postpone assists brokers and investors by preventing unintentional selling of low-cost basis crypto in volatile markets.