Crypto users are NOT ready for what the new tax reporting system looks like. Starting with the new 1099-DA regime, exchanges are reporting your crypto sales directly to the IRS. And here's where it gets ugly: If your exchange doesn't have a valid TIN/SSN for you, backup withholding can be 24% of the GROSS SALE PROCEEDS. Not 24% of your profit. The SALE. Sell $100,000 of crypto? Potentially $24,000 withheld, thats even if you only made a $5,000 gain. Then there's the separate COST BASIS problem. Move crypto: CEX → Wallet → DeFi → Wallet → CEX and the receiving exchange may not have the basis information necessary to report what you originally paid. So the IRS could receive: $100,000 proceeds Basis: NOT REPORTED That doesn't automatically mean another percentage gets withheld, but now YOU have to prove the basis on your tax return. Crypto spent years building instant asset portability. Tax data never caught up. 2027 is going to expose that bottleneck in a massive way. If you are a very active traders, it wouldn't be a bad idea to track your basis at the end of each day.....

Another unpopular crypto opinion: If you want trillions of dollars of normie + institutional money to come onchain… You’re going to have to accept that the Wild West era is ending. That means: KOLs disclosing paid promotions. Devs disclosing insider allocations. Teams not hiding supply across 50 wallets. Market makers not wash trading volume. Influencers not pumping a coin, moving the bag to another wallet, then dumping into followers. And investors actually reporting their gains. Crypto natives might hate that. But Fidelity, BlackRock, pensions, RIAs and everyday investors are not going to pour serious money into markets where insiders can operate with zero accountability. Regulation isn’t automatically bearish. In some areas, enforcement might be the most bullish thing that ever happens to crypto. Because once people trust the market… The money follows. Yes I understand how some of yall hate regulations, but the US will not become the crypto capital without it….