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New IRS rules boost digital asset reporting fines

The IRS has imposed new rules targeting broker transparency by 2027, impacting decentralized exchanges. This regulation mandates the disclosure of gross cryptocurrency sales, ensuring comprehensive reporting for tax compliance.

In 2024, Bitcoin ETFs gathered about $35.66 billion, and Ether ETFs collected $2.68 billion, showcasing robust growth. Yet, crypto security issues worsened; over $2.3 billion was stolen in digital asset hacks, a 40% increase from 2023.

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