The IRS entered a new enforcement phase on April 15 for digital asset cost-basis reporting, with the mandate fully effective for the 2026 tax year. Centralized exchanges, custodial wallet providers, and some digital asset processors must issue Form 1099-DA to the IRS and taxpayers for each sale and trade. The rule requires brokers to track each asset's cost basis from acquisition to disposal, including the purchase price and date for each token sold. The IRS said investors using self-custody wallets to evade reporting face higher audit risk.