The only thing I am unclear about: is it just the crypto that we cashed out into $$ that is taxable (on a cost-basis, capital gain) ? or is it every single crypto trade? I am leaning to just treat the former as taxable. It will certainly simplify the accounting greatly.
It's every single crypto trade now. That's what's changed with this new law passing. Cashed out crypto was already taxed. Good luck if you have rampant bots. You'll need your own bot army to calculate the tax.