Crypto Tax

About twenty minutes. Ten chains. Approximately $6.36 billion drained from Binance hot wallets, according to TRM Labs. For US holders, the immediate question is whether withdrawals work. The next questions are harder: who controls the frozen money, when recovery becomes real, and whether an unrecovered balance creates a deductible tax loss. Keep the estimates separate. Binance puts the affected amount at roughly $6.3 billion; TRM puts it at $6.36 billion; Chainalysis puts it at $6.4 billion. These are estimates of the same incident, not separate losses to add together. ...

120 days after a complete submission. Substantially lower penalties. Those are the targets IRS Criminal Investigation chief Jarod Koopman set for the revamped Voluntary Disclosure Practice on October 23, 2026. The overhaul is “very close,” he said, with release planned before December begins. The final terms are not published. For a US crypto holder ignoring a six-figure cost-basis problem, the potential change is concrete: a different price and timetable for admitting intentional tax noncompliance under a framework dating to 2018. Unreported gains, sales on foreign exchanges and mixer transactions still require records and explanations. Form 1099-DA reporting now gives the IRS custodial-broker data on US users; a missing basis history remains the holder’s problem to reconstruct. ...

Two prints landed on the same afternoon and they cannot both be right. $520 million walked out of US spot crypto ETFs on Sept 16. On that same day, wallets holding between 10,000 and 100,000 ETH bought roughly 200,000 ETH. One side of this market is leaving. The other is buying size into the exit. That is the entire setup. The ETF complex is a rent-a-coin wrapper that US desks rotate in and out of on a schedule. The wallets that moved 200,000 ETH are not on a schedule. And sitting right between them is a single price level that has nothing to do with either flow: $76,700. ...

After three years of hearings, draft bills, and more industry lobbying than any financial legislation since Dodd-Frank, the US Crypto Clarity Act of 2026 has finally landed. Passed by the Senate in July and signed into law last week, it represents the most significant rewrite of US digital asset regulation in history. For the first time, there is a statutory line between what the SEC regulates and what falls under the CFTC. No more regulation-by-enforcement. No more guessing whether your favorite token is a security. And — critically — no more pretending the IRS doesn’t know about your crypto gains. ...

You made money in crypto this year. Maybe a lot. And now you’re staring at a 1099 from Coinbase or Kraken wondering: How much of this do I actually owe the IRS? The short answer: in 2026, the IRS treats cryptocurrency as property — same as stocks or real estate. Every single taxable event (selling, trading, spending, earning) must be reported. But there’s good news: with the right strategy, you can legally slash your bill by thousands of dollars. ...