Half of US crypto investors misunderstand tax rules, survey finds

More than half of U.S. cryptocurrency investors do not properly understand how their assets are taxed, according to a survey by Coinbase and CoinTracker. The poll of 3,000 American crypto investors found that 49% were unaware that selling crypto is a taxable event, while 25% mistakenly believed that simply transferring assets between their own wallets would trigger a tax liability. This confusion is seen as a result of the introduction of the new digital asset tax form, 1099-DA. Coinbase stated that under current rules, all stablecoin payments, small-scale DeFi transactions, and gas fee payments are technically considered taxable events. The company emphasized that this regulatory burden not only inconveniences ordinary Americans but also directly threatens the innovation and adoption targeted by the GENIUS Act.