[Kraken Submits 56 Million Crypto Tax Forms for the 2025 Tax Year, One-Third of Transactions Below $1] Odaily Planet Daily News: Kraken has submitted 56 million crypto transaction tax forms for the 2025 tax year to the U.S. IRS. Among them, approximately 18.5 million forms involve transaction amounts of less than $1, and over half of the forms involve amounts below $10. Data shows that only 8.5% of the 1099-DA forms report amounts exceeding $600, while 74% of the forms report amounts below $50. Kraken stated that due to the lack of de minimis exemption provisions, crypto payments and staking rewards incur tax obligations upon receipt, increasing the reporting burden for investors. Kraken has proposed that Congress pass a broad inflation-linked de minimis tax exemption policy and allow taxpayers to choose the timing of tax obligations for staking rewards.