According to CoinLedger CEO David Kemmerer, thousands of U.S. crypto investors have recently received warning letters from the Internal Revenue Service (IRS), marking a significant escalation in the agency’s efforts to enforce tax compliance in digital assets.
What Happened: In an interview with The Block, Kemmerer revealed that IRS letters targeting crypto investors have spiked 758% over the last two months, based on CoinLedger’s internal tracking.
This surge comes ahead of the IRS’s new 1099-DA reporting rules, set to take effect in January 2026. These regulations will require all crypto brokers to report both the gross proceeds and cost basis of digital asset sales, giving the IRS a far clearer picture of investor gains and losses.
Crypto investors may receive one …