In 2025, new IRS regulations will come into effect in the United States, requiring crypto brokers and trading platforms to report user transactions. Starting in 2026, these reports must also include cost basis data, a key component in calculating tax liabilities. These changes will impact both the platforms themselves and individual investors, introducing not only additional obligations but also the risk of penalties for inaccurate reporting.
In essence, this marks a significant step toward fully integrating the crypto market into the official U.S. financial system, moving it out of the “gray zone” and under the same transparency rules as traditional financial assets. According to Natalia Strutovskaya, a tax law and compliance expert with over a decade of experience, the new IRS requirements make cryptocurrency part of the mainstream financial system, and thus subject to its reporting standards.
Natalia, co-founder of U.S.-based consulting firm Omega Tax Group — 1 INC and former head of legal departments at major financial companies in Ukraine, has developed and implemented tax compliance systems that helped businesses pass regulatory audits and reduce legal risks. Today, in the U.S., she helps entrepreneurs and immigrants navigate the complexities of American tax law and build proper reporting practices.
In this interview, Natalia explains how the IRS updates will impact the crypto market, investors, and immigrants, and what steps can help ensure the legal and secure use of digital assets.
Natalia, you led legal departments in financial firms for over a decade and developed tax compliance systems that successfully withstood regulatory audits. Why do you think the IRS is introducing these new crypto rules now?
The crypto market has grown so large in recent years that it’s no longer possible to ignore it. What used to be a niche area is now used by millions of people, including in cross-border transactions and investments. For the government, this brings two major concerns: tax risk and financial transparency. So introducing these rules now is a logical step — the IRS is responding to the scale and importance of the market and aiming to integrate it into the broader system of financial control and taxation. Crypto is no longer a fringe asset; it’s moving from the “semi-grey” area into a fully regulated space.
In Ukraine, you helped businesses reduce tax risks through effective strategies. In the U.S., you now advise private clients who need to navigate a complex tax system. For investors, will these new IRS rules make things harder?
It’s a mix of easier and more complicated. On the one hand, the burden of tracking every transaction will now fall on brokers, which reduces the chance of human error and relieves individuals of a lot of work. But on the other hand, the ability to “underreport” income is disappearing — the IRS will have a complete picture. So, for those who have always played by the rules, it’s a simplification and adds confidence. But for those who relied on loopholes, it’s time to adapt and become far more diligent.
You also work closely with private clients and know how often reporting errors lead to tax consequences. With the new IRS rules, brokers will calculate cost basis. Should investors still double-check these numbers?
Absolutely. While investors won’t need to manually calculate cost basis anymore — brokers will handle that — it doesn’t mean they can stop paying attention. Errors can still occur, and investors are ultimately responsible for the accuracy of their tax returns. Keeping your own records, even in parallel, is a smart and necessary step.
In your view, are crypto brokers and exchanges ready for these changes?
These changes will require serious investment in IT infrastructure, but it’s a necessary move to integrate crypto into the traditional tax framework. Brokers will need to track not just sales but also acquisition history. That means building systems that go much deeper than many platforms are used to.
At Omega Tax Group, you design tax optimization and compliance systems that help companies meet their obligations correctly. Can crypto be used legally for tax optimization, or is it always a gray area?
Yes, legal tax optimization using cryptocurrency is possible — but strictly within the legal framework. Relying on “informal loopholes” is no longer a viable strategy — the 2025–2026 rules significantly limit that. The best approach is transparent reporting, accurate recordkeeping, and proper documentation for every transaction. In more complex cases — like frequent trading, DeFi activity, staking, or large airdrops — working with an experienced tax professional is key. With the right approach, crypto doesn’t have to be a legal risk — it becomes a legitimate financial tool.
How will the new IRS rules impact immigrant investors, who may not be familiar with the U.S. tax system?
Imagine an investor from the UAE who’s used to using crypto for payments and investments in a more flexible regulatory environment. In the U.S., the system is much stricter, and there’s little room for leniency. Even if your exchange is based abroad, U.S. tax residents are required to declare all crypto income. To comply with IRS rules, immigrants must keep detailed personal records — purchase and sale prices, dates, fees, wallet addresses, everything. The IRS doesn’t receive all this data directly from foreign exchanges, but through technology and legal channels, they can cross-reference blockchain transactions with bank transfers. So, trying to hide crypto activity won’t work.
Your methods help entrepreneurs maintain proper records and pass audits. What should private investors do right now to prepare for the new IRS rules?
First, start maintaining detailed transaction records: export reports from exchanges and wallets, record dates, USD values at the time of the transaction, fees, and wallet addresses. Be prepared to reconcile this with what the IRS receives. Also, document all internal transfers between your own wallets — this can help if the IRS questions anything. Use legal tax optimization tools, and plan liquidity in advance so you can cover tax bills when they’re due. If you’ve missed reporting crypto transactions in prior years, talk to a tax advisor about voluntary disclosure and amending previous returns — don’t wait for a letter from the IRS.
What are the most common mistakes immigrant investors make when dealing with crypto, and what legal consequences can they face in the U.S.? What’s your advice to avoid trouble?
The most common issue is underestimating how strict the U.S. tax system really is. What may have been acceptable elsewhere — loose reporting or simplified tax rules — won’t fly here. Many investors fail to keep proper records, ignore income from foreign platforms, or miscalculate capital gains. Even if the broker prepares reports, the investor is still responsible for accuracy. My advice is simple: track everything, verify every number, and consult a knowledgeable tax professional. That’s the best way to avoid penalties — even if you’re used to a more relaxed system abroad.
This industry announcement article is for informational and educational purposes only and does not constitute financial or investment advice.
