Under 2026 US rules, brokers must report crypto sale proceeds but cost basis reporting remains voluntary for transferred assets. An investor can withdraw bitcoins to a personal wallet, return them to the same account, and sell without mandatory cost basis reporting. Chainalysis estimated over $457 billion in potentially taxable on-chain activity during 2025, including approximately $112.6 billion attributed to the US. The example of buying 0.1 bitcoin for $5,000 and selling it for $7,000 shows that three different custody routes all generate a $2,000 gain but with distinct reporting classifications. The OECD is also developing the Crypto-Asset Reporting Framework (CARF) for annual exchange of crypto-transaction information with taxpayers’ residence jurisdictions.
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