No, Bitcoin, Ethereum, XRP Traders Don't Need To List Their Crypto Wallets For The IRS, But...

Core Viewpoint - A viral claim regarding the IRS requiring taxpayers to disclose their cryptocurrency wallets is false, but it has raised concerns about digital-asset privacy and federal oversight [1][6]. Group 1: Misleading Information - A viral post misrepresented an IRS document, suggesting that taxpayers must list their cryptocurrency holdings and public keys, leading to widespread panic [2][4]. - The document in question is actually Form 9297, which is used in specific cases involving delinquent filings or unpaid taxes, not a general requirement for all taxpayers [4][5]. Group 2: IRS Reporting Rules - New cost-basis reporting rules will be introduced by the IRS on January 1, 2026, but these do not require taxpayers to disclose wallet addresses or public keys [5]. - The changes will focus on broker reporting and taxable events rather than wallet inventories, clarifying that Form 9297 is only used in targeted enforcement cases [5]. Group 3: Public Trust and Privacy Concerns - The incident highlights ongoing confusion regarding digital-asset regulations and the impact of misinformation on public trust in financial surveillance [6][7]. - Cryptocurrency advocates emphasize that this situation reflects a growing scrutiny of federal oversight in digital assets, as fears about potential overreach increase with upcoming regulatory changes [7].