加密貨幣交易所在2025年經歷了重大轉變

加密貨幣交換行業正在經歷重大的轉變，因為新法規和市場動態在2025年重塑了該行業。

Coin exchanges are facing a complete overhaul in reporting and regulatory requirements in 2025.

硬幣交易所在2025年的報告和監管要求方面面臨著全面的大修。

IRS Form 1099-DA Ushers in New Era of Tax Reporting

IRS表格1099-da ushers在稅收報告的新時代

A pivotal change in tax reporting requirements will come into effect in 2025, with centralized cryptocurrency exchanges becoming subject to the new IRS Form 1099-DA [1]. This shift is expected to generate an unprecedented 8 billion new forms annually, significantly increasing the volume of information returns processed by the IRS [1].

稅收報告要求的關鍵變化將在2025年生效，集中式加密貨幣交易所受到新的IRS表格1099-DA的約束[1]。預計這種轉變每年將產生前所未有的80億新形式，從而大大增加IRS處理的信息回報量[1]。

The implementation of Form 1099-DA will follow a phased approach:

表格1099-DA的實施將遵循分階段的方法：

Wendy Walker, VP of Regulatory Affairs at Sovos, explains: “The government knows centralized exchanges can report gross proceeds– many of them were reporting gross proceeds on Form 1099-K until the new 1099-DA regulations were released. So that’s why this year, for 2025, exchanges are required to report gross proceeds amounts, and they get another year to report the cost basis details for transactions in 2026.” [1]

Sovos監管事務副總裁溫迪·沃克（Wendy Walker）解釋說：“政府知道集中式交易所可以報告總收入- 其中許多人報告了1099-K表格的總收益，直到發布了新的1099-DA法規。因此，這就是為什麼今年的2025年，需要交流來報告總收入金額，並且他們將獲得另一年的時間來報告2026年交易的成本基礎細節。” [1]

Global Regulatory Frameworks Emerge

全球監管框架出現

The regulatory landscape for coin exchanges extends beyond the U.S. The Organisation for Economic and Cooperative Development (OECD) has introduced the Crypto-Asset Reporting Framework (CARF), which aims to facilitate transparent reporting of crypto-asset-related transactions between tax authorities [1]. In response, European Union member countries have adopted DAC7 and DAC8 to ensure regional exchanges’ compliance with these new standards [1].

硬幣交易所的監管格局擴展到了美國經濟與合作開發組織（OECD）（OECD）推出了加密資產報告框架（CARF），該框架旨在促進稅務機構之間與加密交易的透明報告[1 ]。作為回應，歐盟成員國採用了DAC7和DAC8，以確保區域交流遵守這些新標準[1]。

State-Level Reporting Requirements Add Complexity

州級報告要求增加了複雜性

Individual states within the U.S. are also developing their own crypto tax reporting requirements, adding another layer of complexity for coin exchanges [1]. The inclusion of state income tax and withholding boxes on the new Form 1099-DA signals the IRS’s intention to share this information with participating states in the Combined Federal State Filing (CF/SF) program [1].

美國境內的個別州也在開發自己的加密稅收報告要求，為硬幣交換增加了另一層複雜性[1]。在新表格1099-DA上包括州所得稅和預扣箱，這表明IRS與聯邦聯邦州申請（CF/SF）計劃中的參與州共享此信息的意圖[1]。

Implementation Challenges for Exchanges

交流的實施挑戰

As coin exchanges navigate this new regulatory environment, they face several core implementation challenges:

當硬幣交換在這個新的監管環境中，他們面臨著幾個核心實施挑戰：

Volume Management: The fractional nature of cryptocurrency trades results in exponentially higher transaction volumes compared to traditional stock and bond trading [1].

數量管理：與傳統的股票和債券交易相比，加密貨幣交易的分數性質導致的交易量更高[1]。

Identity Verification: Managing the collection and processing of Forms W-8 and W-9 presents significant challenges in customer identity verification [1].

身份驗證：管理表格W-8和W-9的收集和處理在客戶身份驗證中提出了重大挑戰[1]。

Cost-Basis Tracking: Beginning in 2026, exchanges must implement systems to track the purchase and sale dates of assets to determine cost-basis and calculate gains and losses for tax purposes [1].

成本基礎跟踪：從2026年開始，交易所必須實施系統以跟踪資產的購買和銷售日期，以確定成本基礎併計算出稅收目的的損益[1]。

Market Dynamics and New Entrants

市場動態和新進入者

While established exchanges grapple with regulatory changes, new market entrants are emerging with innovative approaches. DTX Exchange, for instance, has garnered attention by combining blockchain transparency with institutional-grade tools [2]. With over 700,000 holders during its ICO phase, DTX Exchange is set to launch at $0.36, offering a hybrid model that allows users to trade ETFs and forex with crypto-like speed [2].

在建立的交流努力應對監管變化的同時，新的市場進入者正在以創新的方式出現。例如，DTX Exchange通過將區塊鏈透明度與機構級工具相結合[2]，從而引起了人們的注意。 DTX Exchange在其ICO階段期間有超過700,000個持有人的推出，以0.36美元的價格推出，提供了一種混合模型，使用戶可以以類似加密的速度來交易ETF和外匯[2]。

Regulatory Shifts Under New Administration

新政府的監管轉變

The cryptocurrency industry is experiencing a significant shift in regulatory strategy under the Trump administration. The SEC’s recent voluntary dismissal of appeals related to the “Dealer Rule” signals a change in approach to cryptocurrency regulation [3]. Acting SEC Chairman Mark Uyeda has launched a crypto task force led by Commissioner Hester Peirce, focusing on developing a comprehensive and clear regulatory framework for crypto assets [3].

特朗普政府領導下的加密貨幣行業正在經歷監管策略的重大轉變。美國證券交易委員會最近對與“經銷商規則”有關的上訴的自願駁回表示，加密貨幣法規的方法發生了變化[3]。代理SEC主席Mark Uyeda已發起了由專員Hester Peirce領導的加密工作組，重點是為加密資產開發全面而清晰的監管框架[3]。

Looking Ahead: Potential Legislative Developments

展望未來：潛在的立法發展

Industry experts anticipate potential legislative developments that could further impact coin exchanges:

行業專家預計，潛在的立法發展可能會進一步影響硬幣交流：

David Shapiro, a cryptocurrency legal expert, predicts that the passage of a stablecoin bill could bring fresh institutional interest to the crypto market: “I’m sure all of the banks would like to do this and compete with Tether, but there’s not enough regulatory clarity. So once Congress has the stablecoin bill, that’ll probably bring a lot of money in.” [5]

加密貨幣法律專家戴維·夏皮羅（David Shapiro）預測，穩定法案的通過可能會給加密貨幣市場帶來新的機構利益：“我敢肯定，所有銀行都想這樣做並與Tether競爭，但是沒有足夠的監管機構明晰。因此，一旦國會獲得了穩定法案，那可能會帶來很多錢。” [5]

As the regulatory landscape continues to evolve, coin exchanges must remain agile and proactive in adapting to new requirements while meeting the growing demands of users in an increasingly complex market.

隨著監管格局的不斷發展，硬幣交易所必須保持敏捷和積極主動，以適應新的需求，同時滿足用戶在日益複雜的市場中的不斷增長的需求。