According to CoinMeta, as reported by the US CNBC, research published in Review of Accounting Studies shows that among American taxpayers who hold virtual currencies, only 32% to 56% actually report their transactions to the federal government. Starting from 2025, the US will mandate that intermediaries submit Form 1099- DA. In the first year, this form only requires reporting of total earnings, while the obligation to report costs will be implemented starting from 2026.