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US IRS new regulations: Starting in 2026, Crypto Assets transactions must verify customer tax ID number.
[Chain News] PANews, September 25 - According to reports, the IRS has released a draft of Form W-9 for 2026, which includes new compliance provisions for digital assets. It requires U.S. brokers to collect and verify customers' Tax Identification Numbers (TINs) during transactions involving crypto assets, NFTs, and other digital assets to strengthen tax reporting. The draft also clarifies specific guidelines for sole proprietors and disregarded entities when filling out TINs, aiming to reduce backup withholding risks caused by incorrect TINs. The new regulations will take effect on January 1, 2026, and businesses need to update their compliance processes, while individuals and companies should ensure their TIN information is accurate.