The IRS has released key updates on digital asset compliance.

[IRS Releases Key Updates on Digital Asset Compliance] The Internal Revenue Service (IRS) has released a draft of the revised W-9 form for January 2026, which is an important document for collecting taxpayer identification information. According to the Taxbit blog, this update introduces significant changes aimed at addressing the evolving ecosystem of encryption assets and provides clearer guidance for sole proprietors and disregarded entities in collecting Taxpayer Identification Numbers (TIN). These revisions reflect the IRS's ongoing efforts to respond to emerging financial technologies, with the goal of modernizing tax compliance and simplifying the reporting process for taxpayers and brokers. One of the most notable updates in the draft of the new W-9 Form is the addition of provisions for digital asset compliance, targeting U.S. brokers. The revised W-9 Form incorporates requirements for brokers in collecting and reporting information related to digital asset transactions, aligning with the broader regulatory framework established by the Infrastructure Investment and Jobs Act of 2021. According to the updated table, brokers must obtain specific information from clients participating in digital asset transactions.