Who needs to file Form 1099-DA?

  Brokers and digital asset exchanges are required to file Form 1099-DA if they facilitate the sale, exchange, or transfer of digital assets on behalf of their customers. This applies to:

• Brokers who process digital asset sales, such as those involving cryptocurrencies, stablecoins, or NFTs.

• Exchanges or digital asset platforms that handle transactions for their users.

This requirement ensures that transactions are accurately reported to the IRS for tax purposes, similar to Form 1099-B, which brokers use to report stock transactions.