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House Sends Infrastructure Bill With Crypto Tax Provision to US President

House Sends Infrastructure Bill With Crypto Tax Provision to US President

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Another provision included within the invoice to amend Tax code part 6050I has additionally stoked worry within the crypto business. The regulation, written practically 40 years in the past to apply to in-person money transactions over $10,000, primarily requires recipients to confirm the sender’s private info and file their Social Security quantity, the character of the transaction and different info, and report the transaction to the federal government inside 15 days.

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