The 2026 tax season is set to introduce significant changes for U.S. cryptocurrency investors as new IRS regulations take effect. Starting in 2025, the IRS will implement Form 1099-DA, requiring centralized exchanges to report crypto transactions. This change aims to enhance transparency and compliance in the crypto market. Additionally, the IRS will mandate cost basis tracking on a per-wallet basis, replacing the previous pool method. Tax experts warn that failure to adapt to these new requirements could result in penalties, urging investors to prepare ahead of the upcoming tax season.