CoinLedger: The number of U.S. users receiving encryption tax letters has significantly increased, which may indicate a larger scale of enforcement approaching.

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On June 27, The Block reported that CoinLedger CEO David Kemmerer stated that in the past 60 days, the number of U.S. users receiving letters from the IRS has surged by 758%, a trend also confirmed by accounting firms such as Taxing Cryptocurrency. Kemmerer mentioned in an email that although Trump had expressed a willingness to eliminate cryptocurrency taxes within the U.S., Congress has not yet proposed any related legislation. Meanwhile, many investors still mistakenly believe that they do not need to report their Crypto Assets when filing taxes. He added that this could mark the beginning of a larger enforcement wave, especially in light of the new 1099-DA tax reporting regulations set to take effect next year.

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