The IRS seeks cooperation from the cryptocurrency industry to enhance compliance with cryptocurrency tax regulations

ChainCatcher News, the Digital Asset Initiative Project Office (DAIPO) of the IRS has recently issued a request for information, seeking collaboration and assistance from the crypto industry to enhance its capabilities in ensuring crypto tax compliance.

According to the notice, the IRS hopes that industry partners and other parties can provide solutions and product ideas to help the agency improve its pricing and market data capabilities. They are seeking collaboration and information sources from various parties, with a primary focus on solutions that can enhance efficiency, including identifying digital asset transactions and trading patterns, bulk data analysis, calculating the tax implications of digital asset activities, and assessing and analyzing digital asset transactions.

Currently, the IRS uses some public resources to obtain digital asset prices, such as CoinMarketCap and Investing.com, but they are looking for other vendors that can provide pricing data at hourly, minute, and second levels. (source link)