Which crypto exchanges report to the IRS?
updated november 2026 · ~5 min · basisproof research · not tax advice
What 'reports to the IRS' means in 2026
For transactions on or after January 1, 2025, custodial digital-asset brokers must file Form 1099-DA reporting gross proceeds of sales and exchanges; for transactions on or after January 1, 2026 they also report cost basis where they can determine it (T.D. 10000, issued under IRC §6045). The first of these forms were issued in early 2026 covering 2025 activity — this filing season is the first where your broker's numbers can be checked against yours at scale.
A 1099-DA is not the only channel. Centralized venues have also answered IRS John Doe summonses for bulk account records, and payment apps report under their own regimes. 'Reports' below means a standing reporting pipeline — 1099s — not one-off legal process.
The coverage map
The dividing line is custody plus US nexus, not size. A custodial broker serving US persons reports; an offshore venue that doesn't serve them issues no US form; a non-custodial venue has no customer to report about at all.
Two subtleties worth knowing: Binance.US reports while binance.com does not — the entity matters, not the brand. And venues that don't issue a 1099 may still provide transaction exports you are expected to file from.
| venue | reports? | notes |
|---|---|---|
| Coinbase | yes — 1099-DA | US custodial broker; also survived the 2016–17 John Doe summons |
| Kraken | yes — 1099-DA | US custodial broker; John Doe summons coverage in prior years |
| Gemini | yes — 1099-DA | US custodial broker |
| Uphold | yes — 1099-DA | US-facing custodial broker; also issues 1099-MISC for some reward streams |
| Binance.US | yes — 1099-DA | the US entity reports; binance.com does not serve US persons |
| Crypto.com | yes — 1099-DA | US-facing custodial broker |
| Robinhood | yes — 1099-DA | US broker-dealer; consolidated tax reporting with equities |
| PayPal / Venmo | yes — 1099-DA | custodial crypto features are brokered |
| Cash App | yes — 1099-DA | custodial bitcoin sales brokered by Block |
| Gate.io | no US form | offshore; does not serve US persons — no 1099 issued |
| Binance.com | no US form | offshore; does not serve US persons — no 1099 issued |
| Bybit / OKX / Bitget / KuCoin | no US form | offshore venues; no US reporting pipeline |
| Hyperliquid | no form | non-custodial venue — no KYC, no account, nothing to report against. The public ledger is the record |
| Uniswap / dYdX / Jupiter | no form | non-custodial or offshore; same pattern as Hyperliquid |
status as of november 2026 — venue reporting practices change; 1099-DA obligations are set by T.D. 10000 (IRC §6045).
Why 'no form' doesn't mean 'no visibility'
Non-custodial venues are silent toward the IRS but loud toward everyone else. Hyperliquid's fills, funding and transfers sit on a public ledger keyed by your address; the address becomes attributable the moment it touches anything with a name attached — a Coinbase withdrawal that funded it, an OTC desk, a bank rail. The chain is one hop long.
This produces the characteristic gap the IRS sees: the custodial broker reports a transfer out, then the trail goes quiet at the venue boundary — and picks up again wherever funds re-enter a reporting venue. Reconstructing what happened in between is the taxpayer's job, not the venue's.
The practical consequence
If you traded on a reporting venue, expect their number on a 1099-DA — check it, because broker-reported basis has been wrong before, and the reconciliation burden is yours. If you traded on Hyperliquid, expect nothing at all: your realized PnL, funding and fees exist only as public ledger records until someone recomputes them.
That reconstruction is what Basisproof does for Hyperliquid specifically: fills, funding and signed fees recomputed from the public record, verified against the venue's own series, exported as rows your preparer can use.
Common questions
?Does Uphold report to the IRS?
Yes — Uphold is a US-facing custodial broker and issues 1099 forms, including 1099-DA for digital-asset sales under the post-2025 broker rules and 1099-MISC for some reward/income streams.
?Does Gate.io report to the IRS?
No — Gate.io is operated offshore, does not serve US persons and issues no US tax forms. It is custodial with KYC records, so 'no form' means no reporting pipeline, not no records.
?Does Binance report to the IRS?
Binance.US does — it is the US-regulated entity. The global binance.com does not serve US persons and issues no US forms.
?Does Hyperliquid report to the IRS?
No. Hyperliquid is a non-custodial venue with no KYC — there is no customer identity to report against. Every fill is still public on the ledger; the reporting obligation stays with the filer.
?If my exchange didn't send a 1099, do I still report?
For US filers, yes — the obligation attaches to the taxable events, not to whether a form arrived. 'No form' shifts the entire record-keeping burden to you.
?Will a DEX ever issue a 1099-DA?
The 2024 rules that would have pulled some DeFi front-ends into broker reporting were rescinded in 2025; non-custodial venues are out of scope as the rules stand. Rulemaking continues — and the public ledger doesn't expire either way.
Sources & method
The venue sent nothing — the record still exists
Paste your Hyperliquid address and the free check recomputes every fill, sums funding and signed fees, and closes the account-value identity — the record a 1099 would have been built from, if one existed.
Run the free check