TechFlow news — Some provisions of the infrastructure bill signed by U.S. President Biden have taken effect, including requirements to report many digital asset transactions exceeding $10,000 to the Internal Revenue Service (IRS).
The law mandates brokers to report cryptocurrency transactions over $10,000 to the IRS within 15 days, including the sender’s name, address, and Social Security number.
Jerry Brito, executive director of the nonprofit crypto research center Coin Center, said it remains “unclear how to comply” with the 2024 cryptocurrency tax reporting guidelines.
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