US law requiring all crypto transactions over $10K be reported will not be enforced 4 now

more to come

  • 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.

This article was written by Eamonn Sheridan at Source