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BullNBear52

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BullNBear52

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Thursday, 05/20/2021 4:35:54 PM

Thursday, May 20, 2021 4:35:54 PM

Post# of 54427
U.S. Treasury calls for stricter cryptocurrency compliance with IRS, says they pose tax evasion risk
PUBLISHED THU, MAY 20 202112:13 PM EDTUPDATED 25 MIN AGO
Thomas Franck

KEY POINTS
The Treasury Department announced that it will require any transfer worth $10,000 or more to be reported to the IRS.

“Cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion,” the Treasury said.

Investors have seen the value of bitcoin slide about 25% over the past month and talk of capitulation creep into online forums.

https://www.cnbc.com/2021/05/20/us-treasury-calls-for-stricter-cryptocurrency-compliance-with-irs.html

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