TechFlow news: U.S. businesses are currently not required to report cryptocurrency transactions exceeding $10,000 to the Internal Revenue Service (IRS) until the tax authority releases a regulatory framework.
The IRS and the Department of the Treasury intend to issue proposed regulations regarding digital asset reporting, but have not specified a rollout timeline.
Previous report: The IRS had requested reporting of digital asset transactions over $10,000, including sender's name, address, and other details.
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