Most of these 1099s are going out to people who owe little or no tax on the transactions, such as people who split restaurant bills worth more than $600 over the course of a year.

No, it doesn't apply to family and friends payments.

https://help.venmo.com/hc/en-us/articles/4407389460499-2023-...

In crypto of course you have to do all that bookkeeping yourself.