U.S. Treasury to Require Reporting Cryptocurrency Transactions Over $10,000

The Treasury Department announced that it is taking steps to crack down on cryptocurrency markets and transactions, and said it will require any transfer worth $10,000 or more to be reported to the Internal Revenue Service. “Cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion,” the Treasury Department said in a release.

• Read the article: CNBC