Rob Massey, who has advised Deloitte on crypto taxes since 2012, explains that the self-assessment system has not changed despite evolving tax rules for Bitcoin. Using Bitcoin as a means of payment requires new reporting habits, while wallet transfers do not all qualify as taxable realization events. Broker-issued 1099 forms will never provide a complete picture because the IRS can also observe transactions recorded on the blockchain. Massey asks Bitcoin holders to seek more Treasury guidance on lending, gain classification and cost basis rather than calling for tax exemptions to be repealed.
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