New IRS Crypto Tax Rules 2024: Confusion and Concern Among US Investors

American cryptocurrency investors are expressing widespread anxiety and confusion regarding the latest IRS tax regulations for the 2024 filing season. The new rules, which mandate detailed reporting from crypto exchanges, have left many holders uncertain about compliance. Key concerns center on the accurate calculation of capital gains and losses from digital asset transactions. Experts advise investors to meticulously track all transactions, including purchases, sales, and swaps of major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). This regulatory shift underscores the increasing scrutiny on the crypto sector by U.S. authorities. Financial advisors are urging taxpayers to seek professional guidance to navigate the complex reporting requirements and avoid potential penalties.