Press Release
IRS Rule Changes Coming in 2026 Bring Major Reporting Shifts for Bitcoin, Ethereum, and XRP Taxpayers
New Form 1099-DA Requirements, Full Cost-Basis Reporting, and Enhanced Compliance Reshape U.S. Crypto Taxation.

The U.S. Treasury and the Internal Revenue Service (IRS) have enacted significant reforms that will fundamentally change how cryptocurrency activity is reported and taxed in the United States. Beginning in 2026, these new rules will place expanded reporting obligations on exchanges and custodial platforms and introduce full cost-basis reporting for certain digital assets, including Bitcoin (BTC), Ethereum (ETH), and XRP.
These regulatory changes are designed to increase transparency in the cryptocurrency market, reduce errors in tax reporting, and strengthen compliance across the digital asset industry. While partial implementation begins with transactions in the 2025 calendar year, the new reporting framework will come into full force starting January 1, 2026.
As taxpayers prepare for this transition, firms such as Legal Tax Defense, Inc., a company specializing in legal tax defense and IRS debt relief services for tax levy, are tracking how the new reporting structure affects individuals and businesses involved in cryptocurrency transactions.
What Are the New IRS Rules in 2026?
One of the most significant changes is the introduction of Form 1099-DA, a new tax reporting form created specifically for digital assets. Brokers and custodial platforms are required to file Form 1099-DA for each sale or exchange of digital assets that occurs on or after January 1, 2025.
The implementation follows a two-phase approach:
- Phase One (2025 calendar year):
Brokers are required to report gross proceeds only. This means the IRS receives information about how much a digital asset was sold for, but not the original purchase price or cost basis. - Phase Two (starting in 2026):
Brokers must report both gross proceeds and cost basis for certain digital assets classified as “covered securities.” Cost basis includes the original acquisition price of the asset, along with applicable transaction fees. This allows the IRS to calculate gains and losses more directly and reduces the likelihood of reporting errors.
While the new system improves consistency, it also requires exchanges and custodial platforms to maintain significantly more detailed internal records.
How These Changes Affect Bitcoin, Ethereum, and XRP Traders
Beginning in 2026, Bitcoin, Ethereum, and XRP trades executed on custodial platforms will be automatically reported to the IRS through Form 1099-DA. For assets that are purchased and held within the same custodial account, the platform will track cost basis and report it directly.
This enhanced reporting may simplify tax filing for traders who operate within a single platform. However, investors who move digital assets between multiple exchanges or who prefer self-custody wallets must continue maintaining their own detailed records.
When cryptocurrency is transferred from one wallet to another, the transfer itself is not a taxable event. However, cost basis information does not automatically transfer with the asset. Taxpayers must track this information to ensure accurate reporting when the asset is later sold or exchanged.
For traders holding multiple cryptocurrencies, such as Bitcoin, Ethereum, and XRP, across different platforms, accurate and complete recordkeeping becomes especially important.
Crypto-to-Crypto Trades Remain Taxable
The new reporting framework does not change the tax treatment of crypto-to-crypto transactions. Exchanging one cryptocurrency for another continues to be a taxable event and must be reported accordingly.
While improved reporting by custodial platforms may assist with tracking some transactions, traders using decentralized platforms or self-custody wallets remain responsible for calculating gains and losses on their own.
Transition Relief and IRS Enforcement Approach
Due to the complexity of the new reporting requirements, the IRS has provided transitional relief for brokers and custodial platforms. This relief protects platforms from certain penalties during the early implementation period, provided they make a good-faith effort to comply with the new rules.
This transitional relief applies to platforms, not taxpayers. The IRS has continued enforcement efforts related to unreported cryptocurrency income, signaling that taxpayers remain responsible for complying with all reporting requirements. As the new reporting system becomes routine, enforcement is expected to become more precise.
Policy Reversal Affecting DeFi and Decentralized Exchanges
In early 2025, Congress rolled back an IRS rule that sought to extend broker reporting obligations to decentralized finance (DeFi) platforms. Using the Congressional Review Act, lawmakers prevented the IRS from requiring certain DeFi platforms to collect user information and report transactions.
While this rollback reduces immediate regulatory pressure on decentralized platforms, it does not conclude the broader discussion. Lawmakers and regulatory agencies continue to evaluate how DeFi activity should be taxed, and future legislation or rules may introduce new reporting requirements.
Updates on Staking Rewards and Investment Vehicles
In 2025, the IRS issued guidance clarifying how staking rewards are treated for tax purposes. Staking rewards are considered taxable income upon receipt. Any subsequent sale of the rewarded cryptocurrency results in a separate capital gain or loss calculation.
This guidance applies to proof-of-stake networks such as Ethereum, where participants may receive staking rewards regularly throughout the year. The IRS also opened the door for certain investment vehicles, including trusts and exchange-traded products, to participate in staking activities without losing their tax-favored status. This expands the range of financial products that can support staking.
Recordkeeping Becomes More Important Than Ever
With expanded reporting requirements, precise recordkeeping is critical. Each transaction should be documented with accurate timestamps, transaction fees, and cost-basis information to avoid errors and potential penalties.
Major tax software companies and crypto tax platforms are already updating their systems to support Form 1099-DA and expanded cost-basis reporting. These tools are expected to help taxpayers reconcile their personal records with broker-reported information beginning in 2026.
Overall Impact on the Crypto Market
The IRS rule changes reflect a broader shift toward increased oversight and transparency in cryptocurrency trading. The two-phase rollout places crypto taxation on a framework more closely aligned with traditional securities reporting.
Traders, exchanges, and custodial platforms will need to adjust to the new requirements, but the long-term goal is a clearer and more consistent regulatory environment for the growing digital asset economy.
As these changes approach full implementation, taxpayers involved in Bitcoin, Ethereum, XRP, and other digital assets are encouraged to understand how the new reporting rules may affect their tax obligations.
About Legal Tax Defense, Inc.
Legal Tax Defense, Inc. is a U.S.-based firm specializing in legal tax defense and IRS debt relief services for tax levy. The firm assists taxpayers facing complex IRS-related matters as federal tax reporting requirements continue to evolve.
For more information, visit: https://www.legaltaxdefense.com/
For any inquiry, contact Steven J. Hirsch (Partner, Legal Tax Defense) at admin@legaltaxdefense.com.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Snagle Paw Introduces Premium Mobility and Home Safety Solutions for Modern Pet Families
Designed for daily pet care needs, Snagle Paw’s StrideMate Series bring together outdoor mobility and safer indoor management for large, senior, injured, disabled, and multi-dog households.
Sheridan, Wyoming, United States, 4th Jun 2026 – As more pet owners seek practical ways to support aging, injured, or large dogs, mobility and home safety products are becoming increasingly important in modern pet care. Snagle Paw, a premium pet brand serving pet families since 2012, has introduced a focused range of pet mobility and home safety solutions designed around real household needs.
The product line addresses two common care scenarios: helping dogs continue outdoor routines more comfortably and supporting safer indoor management near doors, stairs, hallways, and other high-risk areas.

Practical Needs in Everyday Pet Care
Many pet owners face challenges when caring for large dogs, senior pets, injured animals, disabled dogs, or households with more than one dog.
Traditional pet strollers may offer limited space, lower weight capacity, or difficult access for heavier dogs. At home, energetic or curious pets may rush toward doors, stairways, or busy entrances when a reliable barrier is not in place.
Snagle Paw’s latest solutions are designed to support these everyday situations with products that combine mobility, space, safety, and ease of use.
Stroller Wagons Designed for Larger and Mobility-Limited Dogs
Among the brand’s outdoor mobility solutions, the StrideMate Max is a large dog stroller wagon designed for large, senior, injured, and disabled dogs that need more room and easier access than many standard pet strollers provide.
Its stroller-wagon format offers a more practical option for dogs that may struggle with long walks, recovery outings, or travel.

The StrideMate Pro also serves as a practical dog stroller for large dogs and multi-dog households seeking higher weight capacity and more spacious travel support.
Both stroller wagons support up to 220 lbs and include a spacious cabin that allows dogs to turn around, sit comfortably, or lie down and rest during outdoor use.
A defining feature of the stroller wagons is the built-in ramp, which allows dogs to walk in and out without being lifted. This design can help reduce strain for senior, injured, or disabled pets while making daily outings more manageable for owners.
The built-in canopy provides shade from sunlight and protection from light rain, reflecting Snagle Paw’s original approach to combining comfort, protection, and practical pet mobility.

Retractable Metal Gate Supports Safer Home Environments
For indoor safety, the Extra-Tall Metal Retractable Dog Gate is designed to help prevent dogs from rushing out when doors are opened. It is intended for use near front doors, stairs, hallways, apartment corridors, and other areas where pet owners may need a temporary but dependable safety barrier.
The gate’s retractable design allows families to create a boundary when needed and store it neatly when not in use. Its metal construction provides stronger support, greater durability, and a more secure feel compared with many soft mesh or lightweight barriers.

“Snagle Paw was born from real family needs. We wanted to create products that solve everyday problems for pet parents, from helping large or senior dogs get outside more comfortably to preventing energetic dogs from rushing out the door at home. Features like the built-in ramp, 220-lb weight capacity, spacious cabin, protective canopy, retractable design, and durable metal structure reflect our commitment to making pet care safer, easier, and more comfortable,” said a spokesperson for Snagle Paw.
Building on this philosophy, Snagle Paw plans to continue developing pet-care products inspired by real family routines, with an ongoing focus on safety, comfort, flexibility, and everyday usability for pets and their owners.
Snagle Paw’s R&D team is continuously expanding their portfolio of innovative solutions designed to support senior and injured dogs. Upcoming releases will include dog leg braces, lift harnesses, red light therapy harnesses and pads, as well as PEMF dog beds—further reinforcing our commitment to enhancing canine mobility, comfort, and overall well-being.
Learn more info about Snagle Paw’s official website and social media:
Facebook: https://www.facebook.com/snaglepaw.official/
Instagram: https://www.instagram.com/snaglepaw
YouTube: https://www.youtube.com/@SnaglePaw
TikTok: https://www.tiktok.com/@snaglepaw
About Snagle Paw
Snagle Paw is a premium pet brand created for pet families since 2012. Inspired by real pets and real family needs, the brand develops thoughtfully designed products that help pets enjoy safety, comfort, and freedom at home and on the go.
With product lines covering dog stroller wagons, retractable dog gates, travel crates, and other pet lifestyle solutions, Snagle Paw is dedicated to helping owners care for their furry companions with greater ease, confidence, and warmth.
Media Contact
Organization: Snagle Paw
Contact Person: Kevin Yan
Website: https://snaglepaw.com/
Email:
info@snaglepaw.com
Contact Number: +13073818630
Address:Snagle International Inc, 30 N Gould St Ste R, Sheridan, WY 82801, USA
City: Sheridan
State: Wyoming
Country:United States
Release id:45715
The post Snagle Paw Introduces Premium Mobility and Home Safety Solutions for Modern Pet Families appeared first on King Newswire. This content is provided by a third-party source.. King Newswire makes no warranties or representations in connection with it. King Newswire is a press release distribution agency and does not endorse or verify the claims made in this release. If you have any complaints or copyright concerns related to this article, please contact the company listed in the ‘Media Contact’ section
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
VOKA Receives Bronze at the Telly Awards 2026
Medical visualization company VOKA won a Bronze Award at the 47th Annual Telly Awards for its 3D animation, “Mechanism of Semaglutide: The Science Behind Fat Loss. The award-winning 3D medical animation “Mechanism of Semaglutide” visualizes complex metabolic processes with cinematic precision
New York, United States, June 4, 2026 — VOKA’s video “Mechanism of Semaglutide: The Science Behind Fat Loss” has been awarded Bronze at the 47th Annual Telly Awards in the “General-Healthcare & Medical” category.

The awards honor excellence in video and television production across multiple platforms and are judged by leaders from video platforms, television, streaming networks, and production companies. This year’s winners include Paramount TV, Warner Brothers Discovery, FOX Entertainment, Sony Music, TED, ABC News, and many others.
The recognition highlights VOKA’s work in producing scientifically accurate 3D medical animations that help explain complex biological and therapeutic processes.
About VOKA’s Project
The winning animation, “Mechanism of Semaglutide: The Science Behind Fat Loss,” visualizes how semaglutide regulates metabolism and appetite. The video specifically highlights key biological steps, including POMC/CART activation (triggering the sense of satiety), NPY/AgRP reduction (leading to a decrease in cravings), and vagus nerve interaction to slow gastric emptying.
By explaining these complex scientific concepts through an engaging, clear narrative, the video serves as an ideal tool for medical education, pharmaceutical marketing, and scientific communication.
The award-winning animation can be viewed here: https://youtu.be/zUsf09RrkTM?si=IksqZm4FUCVZlszv
About the Award
Established in 1979, the Telly Awards is a global competition created to honor excellence in television and digital video production. Submissions are evaluated by the Telly Awards Judging Council, a panel of over 250 industry professionals from giants like the BBC, Amazon, and Netflix. Entries are assessed based on creativity, storytelling, and the innovative use of technology across various media platforms.
About VOKA
VOKA is one of the leading providers of high-fidelity medical visualization and immersive technologies, delivering a comprehensive suite of 3D medical and scientific animation services for the pharmaceutical, life sciences, and medical education sectors. The company specializes in tailored 3D animations across diverse therapeutic fields — including cardiology, dermatology, oncology, and urology — as well as high-precision depictions of Mechanisms of Action (MoA), Mechanisms of Disease (MoD), medical devices, and surgical procedures.
To bridge the gap between complex science and engaging storytelling, VOKA combines the expertise of an in-house medical team with professional 3D artists and motion designers, ensuring cinematic-quality visuals that maintain the highest scientific accuracy and regulatory compliance. Beyond animation production, VOKA develops interactive 3D anatomy and pathology models and extended reality (XR) experiences to elevate clinical training and medical communication worldwide.
Contact Info:
Name: Maryia Shchakovich
Email: info@voka.io
Organization: VOKA
Website: https://voka.io/
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Leader Tax Consultant Strengthens Corporate Tax and VAT Advisory Support for Businesses in Dubai
Leader Tax Consultant continues supporting businesses across Dubai with corporate tax, VAT consultancy, accounting, bookkeeping, and financial advisory solutions designed to help organizations remain compliant and financially organized.
Dubai, United Arab Emirates, 4th Jun 2026 – Leader Tax Consultant, a Dubai-based tax consultancy and accounting firm, continues to support businesses across Dubai and the UAE with corporate tax, VAT consultancy, accounting, bookkeeping, and financial advisory services. Having assisted more than 2,500 businesses and entrepreneurs, the firm remains committed to helping organisations meet their compliance obligations while maintaining accurate financial records and informed financial planning.

As businesses across the UAE continue adapting to changing tax requirements, many are seeking support from experienced tax consultants in UAE to help manage reporting obligations, maintain compliance, and address financial challenges. Leader Tax Consultant works with startups, SMEs, established companies, and entrepreneurs across multiple industries, providing practical guidance on tax and accounting matters.

The firm’s services cover corporate tax, VAT consultancy, accounting and bookkeeping, excise tax, financial advisory, ERP solutions, tax residency certificate assistance, and business consultancy services. This broad service offering allows businesses to access professional financial support from a single advisory firm.
Demand for Corporate Tax Consultants in Dubai
Corporate tax has become one of the most important areas of focus for businesses operating in the UAE. As regulations continue to develop, companies are paying closer attention to tax planning, record keeping, reporting requirements, and compliance procedures.
Many organisations are now working with corporate tax consultants in Dubai to better understand their responsibilities and maintain compliance with applicable regulations. Businesses that maintain accurate financial records and proper documentation are often better positioned to manage tax obligations and reduce reporting issues.
Leader Tax Consultant provides corporate tax services for businesses seeking guidance on compliance requirements, tax planning, reporting obligations, and financial record management. The firm’s approach focuses on helping clients understand their responsibilities while maintaining practical and efficient compliance processes.
As a corporate tax consultant in Dubai, the company supports businesses throughout different stages, from newly established companies to organisations with more complex financial and reporting requirements.
The increasing demand for corporate tax consultants in Dubai highlights the importance of professional support in a regulatory environment where accuracy and compliance remain essential priorities.
VAT Consultancy Services Supporting UAE Businesses
VAT continues to play a significant role in the financial operations of businesses across the UAE. From registration requirements to filing obligations and record keeping, VAT compliance remains an ongoing responsibility for organisations of all sizes.
Many businesses seek VAT consultancy services in Dubai to ensure their VAT processes remain accurate and aligned with current requirements. Errors in VAT reporting can create unnecessary complications, making professional guidance increasingly valuable.
Leader Tax Consultant provides VAT consultancy services in Dubai for businesses looking for support with VAT registration, compliance reviews, filing requirements, documentation, and ongoing advisory services.
The firm’s VAT specialists work closely with businesses to address questions relating to VAT obligations while helping companies maintain organised records and reporting procedures.
Demand for VAT consultancy services in UAE continues to increase as businesses place greater emphasis on maintaining compliance and reducing administrative challenges associated with tax reporting.
Through its VAT consultancy services, Leader Tax Consultant assists businesses across a variety of industries, helping them understand their obligations and maintain confidence in their reporting processes.
Accounting and Bookkeeping Services Remain Essential
Accurate accounting records form the foundation of every successful business. Financial records support tax reporting, regulatory compliance, budgeting decisions, and business planning activities.
Businesses that maintain organised bookkeeping systems are often better equipped to monitor performance, prepare financial reports, and meet reporting deadlines. Reliable accounting practices also support transparency across business operations.
Leader Tax Consultant provides accounting and bookkeeping services for businesses seeking accurate financial records and professional financial management support.
The firm’s accounting professionals assist clients with maintaining financial records, preparing reports, monitoring transactions, and supporting day-to-day accounting requirements.
As businesses continue to adapt to changing tax and compliance requirements, accounting and bookkeeping services remain an important part of maintaining financial stability and operational efficiency.
By combining accounting support with tax consultancy services, businesses can benefit from a more coordinated approach to financial management and compliance.
Supporting More Than 2,500 Businesses and Entrepreneurs
Leader Tax Consultant has supported more than 2,500 businesses and entrepreneurs across Dubai and the UAE. This experience has provided the firm with insight into the financial and compliance requirements faced by businesses operating in different sectors.
From newly established companies seeking initial guidance for their organisations requiring ongoing advisory support, the firm works with businesses at various stages of development.
The company’s continued success reflects the increasing demand for professional tax consultants in Dubai who can provide support across multiple financial and compliance areas.
Businesses often require assistance with corporate tax, VAT, accounting, financial reporting, and broader compliance matters. Having access to experienced advisors can help companies address these responsibilities more effectively.
The firm’s commitment to professional standards, transparency, and client service has contributed to long-term relationships with businesses throughout the UAE.
As organisations continue to adapt to evolving regulations, the need for dependable tax consultancy services remains an important consideration for business owners and management teams.
Financial Advisory and Business Support Services
In addition to tax and accounting services, Leader Tax Consultant provides financial advisory solutions designed to support informed decision-making and effective financial management.
Financial advisory services can help businesses review financial performance, assess operational considerations, and evaluate opportunities for future planning.
The company also provides support with tax residency certificate applications, ERP solutions, business consultancy services, and excise tax requirements.
These services allow businesses to address a range of financial and compliance needs through a single professional advisor.
As regulatory requirements continue to evolve, businesses increasingly value access to advisors who understand local requirements and can provide practical recommendations based on business objectives.
By offering tax, accounting, advisory, and compliance-related services under one roof, Leader Tax Consultant helps businesses maintain continuity across multiple financial functions.
Continued Commitment to Businesses Across Dubai and the UAE
Dubai remains one of the region’s most active business hubs, attracting entrepreneurs, investors, startups, and established organisations from around the world.
As the UAE business environment continues to evolve, companies require reliable support to manage compliance requirements, financial reporting obligations, and tax responsibilities.
Leader Tax Consultant remains focused on helping businesses maintain compliance while supporting sound financial management practices.
The firm continues to provide services that address the needs of businesses operating across different industries and sectors throughout Dubai and the UAE.
With more than 2,500 businesses and entrepreneurs supported, Leader Tax Consultant remains dedicated to delivering professional tax consultancy, accounting, VAT advisory, and financial support services that help businesses manage their financial responsibilities with confidence.
About Leader Tax Consultant
Leader Tax Consultant is a professional tax consultancy and accounting firm based in Dubai, UAE. The firm provides corporate tax services, VAT consultancy services, accounting and bookkeeping services, excise tax services, financial advisory, ERP solutions, tax residency certificate assistance, and business consultancy services. Through its commitment to professional standards, transparency, and client-focused service, Leader Tax Consultant supports businesses across Dubai and the UAE with their tax, accounting, and financial requirements.
Managed By Devlogix Tech
Media Contact
Organization: Leaders Tax Consultant
Contact Person: Leader Tax Consultant Team
Website: https://leaderstaxconsultant.com/
Email: Send Email
Contact Number: +971561274824
Address:Office 203, Royal Plaza Building 69, Beside Avenue Hotel
City: Dubai
State: Dubai
Country:United Arab Emirates
Release id:45717
The post Leader Tax Consultant Strengthens Corporate Tax and VAT Advisory Support for Businesses in Dubai appeared first on King Newswire. This content is provided by a third-party source.. King Newswire makes no warranties or representations in connection with it. King Newswire is a press release distribution agency and does not endorse or verify the claims made in this release. If you have any complaints or copyright concerns related to this article, please contact the company listed in the ‘Media Contact’ section
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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