Opinion by: Robin Singh, CEO of Koinly
In the race between regulation and Bitcoin (BTC) all-time highs, there is no doubt tax agencies will double down on their crypto-tracking systems well before Bitcoin hits $1 million.
Crypto investors shouldn’t become complacent or assume they can skate by until the million-dollar price tag. In addition to their laser focus on the future, they are becoming skilled at scrutinizing the past. Many jurisdictions have the power to backtrack on previous years, and if tax authorities realize how much they’ve missed, they won’t just let it slide…
This could spell trouble for misinformed Bitcoiners who have already begun spending their profits.
Tax agencies will catch up through automated data-sharing
Governments are still in this weird gray area where crypto tax rules can change anytime. Take the US Internal Revenue Service (IRS), for example. In a shock move, as of 2025, the IRS now