Coinbase states that the new digital asset tax reporting form 1099-DA introduced by the U.S. Internal Revenue Service (IRS) is complex during its initial implementation phase and may increase the reporting burden for crypto users and platforms. Under the new rules, exchanges will only report the total gross proceeds of digital asset transactions to the IRS this year, without providing the cost basis, so users will need to calculate their actual gains or losses themselves; at the same time, small transactions such as stablecoin trades and on-chain gas fees are also included in the reporting scope. (CoinDesk)