According to Axios, the US Internal Revenue Service has announced new crypto tax reporting regulations set to take effect in 2025, requiring exchanges and brokers to report detailed transaction data. This move is expected to increase regulatory transparency and could affect trading volumes and price volatility for cryptocurrencies like Bitcoin and Ethereum. Traders should prepare for increased compliance costs and potential shifts in market liquidity as these rules are enforced (source: Axios, 2025-05-12).