Treasury calls for reporting crypto transfers over $10,000 to IRS
The announcement pared Bitcoin's rebound from Wednesday's rout, shaving about $3,000 from the token's price.
The U.S. Treasury said the Biden administration’s proposal to strengthen tax compliance includes a requirement for reporting transfers of at least $10,000 of cryptocurrency to the Internal Revenue Service.
“As with cash transactions, businesses that receive cryptoassets with a fair-market val
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