Starting with the 2025 tax year, major crypto exchanges including certain U.S. platforms will report all your trading proceeds directly to the IRS using Form 1099-DA. This means your transaction records are now under federal scrutiny.

Here's the critical part: whatever records you're reporting need to align perfectly with what the exchange files. If there are gaps or inconsistencies between your filings and their reports, you're setting yourself up for serious complications down the line.

Bottom line—get your records organized now, reconcile everything twice, and make sure the numbers match. Don't give the IRS any reason to dig deeper.