New Crypto Tax Law Takes Effect in US: Transactions of $10,000 or More Must Be R

[Uruhara]

New Crypto Tax Law Takes Effect in US: Transactions of $10,000 or More Must Be Reported to IRS Within 15 Days

A new tax reporting law has entered into force in the U.S. Starting on Jan. 1, all Americans receiving $10,000 or more in crypto in the course of their trade or business must file a report with the Internal Revenue Service (IRS) within 15 days... See more for yourself here.

Your opinion is greatly appreciated.

Increasingly clear regulations regarding crypto and its taxes in a country should actually be welcomed. Because this also proves that the country has allowed its citizens to get involved in crypto and crypto has been recognized as part commodity asset and part security.

In Indonesia, crypto taxes have been determined because several crypto assets listed here have been designated as commodity assets here. Fortunately, the Exchange has automatically deducted taxes for its users. Because Cex has collaborated with the government. And I also heard that large transactions also require reporting as soon as possible. So it's not surprising that it's the same in the US. And I think there will be many other countries that will also do the same thing in crypto regulation.