IRS issues temporary cryptocurrency tax relief measures to benefit CeFi exchange users through 2025
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2025-01-01 10:02 6,709
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Golden Finance reports that the U.S. Internal Revenue Service (IRS) has issued a temporary relief measure that is expected to benefit CeFi exchange users in 2025. This relief measure addresses concerns raised by the final version of Section 6045 of the custodial broker regulations, which will take effect on January 1, 2025 and require a first-in, first-out (FIFO) accounting method for digital assets unless the maximum Preferred methods such as In-First-Out (HIFO) or Spec ID.