Crypto clampdown sees US Treasury demand tougher IRS reporting rules

The US Treasury is clamping down on cryptocurrency, proposing new rules meaning transfers of $10,000 or more of bitcoin, Ethereum, or other virtual currencies would need to be reported to the IRS. The extra regulation comes as the Treasury Department highlighted crypto’s potential use in illegal activity, such as tax evasion, which it predicts could increase in coming years. “Cryptocurrency … Continue reading