The U.S. Internal Revenue Service is stepping up its review of cryptocurrency users by requiring some taxpayers under audit to disclose whether they have used more than 100 exchanges and wallets. Those subject to the request must also sign the document to confirm that their disclosures are accurate, underscoring a more aggressive approach to crypto-related tax enforcement.
Major exchanges and self-custody wallets included
The list reportedly spans a wide range of well-known crypto services. It includes major centralized exchanges such as Coinbase, Binance, Kraken, FTX, and Mt. Gox, along with self-custody products like MetaMask, Ledger, and Trezor. The breadth of the list suggests the IRS is looking beyond trading venues alone and examining how taxpayers may have stored, transferred, or managed digital assets across different types of platforms.
Users must disclose platform history
Under the audit request, taxpayers are asked to indicate whether they have used the listed exchanges or wallets and then certify those disclosures with a signature. This kind of documentation could help the agency build a clearer picture of a taxpayer’s crypto activity, including potential transaction routes, custody choices, and account relationships tied to digital asset holdings.
Compliance expectations are getting stricter
The development points to a broader compliance trend in which crypto tax oversight is becoming more detailed and operational. Rather than focusing only on gains or losses, authorities appear increasingly interested in account history and wallet usage as part of audit procedures. For crypto users, that raises the importance of maintaining clear records across both exchange accounts and self-custody environments.
The source material does not specify how broadly the requirement is being applied, how many audits are affected, or whether any new penalties are attached. Still, it clearly indicates that the IRS is expanding the scope of information it seeks from cryptocurrency users during selected tax examinations.