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

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US law requiring all crypto transactions over $10K be reported will not be enforced 4 now
source : forex live ( Middle East ) () 24
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 ;-) --Bitcoin up This article was written by Eamonn Sheridan at www.forexlive.com.

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