The Hidden Cost of Crypto Profits: Why Investors Struggle to File Their Taxes

Digital asset users are raising concerns about filing crypto taxes as the volume of on-chain activity continues to grow.

These issues come amid a regulatory shift marked by the adoption of the Crypto-Asset Reporting Framework (CARF) across various countries. This aims to address long-standing gaps in cryptocurrency tax oversight.

For context, the Internal Revenue Service (IRS) treats digital assets as property, requiring the reporting of income and capital gains from transactions, such as sales, service payments, staking, airdrops, and more.