We are pleased to announce that Ledgible, a leading authority in cryptocurrency tax and accounting solutions, has submitted a comprehensive comment letter to the Internal Revenue Service (IRS) regarding REG-122793-19, the Notice of Proposed Rulemaking: Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions.
The proposed regulations aim to provide clarity and guidance on the reporting obligations related to digital asset transactions. As a key stakeholder in the cryptocurrency space, Ledgible recognizes the importance of contributing to the regulatory dialogue to ensure the development of fair and effective rules that address the unique challenges posed by digital assets.
Ledgible's comment letter is a result of meticulous analysis and thoughtful insights garnered from its experience in navigating the complexities of cryptocurrency taxation. The submission provides constructive feedback on various aspects of the proposed regulations, offering practical suggestions to enhance their efficacy and reduce compliance burdens for industry participants.
Ledgible’s VP of Tax Information Reporting, Jessalyn Dean, will open the IRS hearing at 10am EST on Monday 11/13.
We encourage all stakeholders, including tax professionals, cryptocurrency enthusiasts, and industry experts, to review the letter and engage in the ongoing dialogue surrounding the regulatory landscape for digital assets.