The US Treasury's Internal Revenue Service released the 2025 cryptocurrency transaction tax regime, which aims to establish filing rules for digital asset brokers, but the relevant rules for DeFi and non-custodial wallets have been temporarily put on hold. The rules released on Friday will take effect for trading from 2025 and require brokers to closely monitor the cost basis of client tokens starting in 2026. The new rules for cryptocurrency brokers require trading platforms, custodial wallet services, and digital asset kiosks to submit disclosures about changes and gains in clients' assets. These assets will also include (in very limited cases) stablecoins such as USDT, USDC, and high-value non-fungible tokens (NFTs). Under the new rules, the IRS will not require reporting of most regular stablecoin sales, and has set an annual threshold of $600 for NFT gains, beyond which reporting is required.