Crypto media outlet CoinTelegraph with the info:
- United States businesses won’t yet need to report cryptocurrency transactions above $10,000 to the Internal Revenue Service (IRS) until the tax agency releases a regulatory framework.
- On Jan. 1, a law requiring all U.S. businesses to report cryptocurrency transactions over $10,000 came into effect — but the tax regulator has stepped back from enforcing the rule for the time being.
Crypto folks were upset when this new rule came into place. This might cheer them up , for now. Though they tend to like complaining ;-)
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Bitcoin update:
