#GENIUSActPass aims to enhance tax compliance and enforcement. Here’s a concise overview:

- The bipartisan #GENIUSAct proposes IRS reporting requirements for cryptocurrency brokers.

- It seeks to clarify tax obligations for crypto transactions and improve compliance.

- The bill aims to address tax evasion risks associated with digital assets.

- It would require brokers to issue Form 1099s for crypto transactions, similar to traditional financial institutions [3][4].