The U.S. Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures. Among the measures is a requirement for businesses that receive crypto assets with a fair market value of more than $10,000 to report transactions to the IRS.
US Treasury Unveils Biden's Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRS