The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S. Congress in 2021, were to be imposed in 2023.

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) are delaying an obligation for digital asset brokers to start tracking and reporting proceeds from customer transactions. The respective provision was introduced with the Infrastructure Investment and Jobs Act, which was signed into law in late 2021, and was scheduled to enter into force on Jan. 1, 2023.

The main purpose of the requirement, imposing on the crypto sector the regulations that currently apply to securities brokers, was to increase tax revenues from coin trading by revealing gains from such operations in a 1099 form.

However, additional rules are needed to enforce the legislation, including defining the scope of the term “broker” — critics have pointed out that it’s currently too wide and covers entities such as miners that may not be able to comply with the regulations.