The IRS and Treasury Department temporarily postpone the application of the $10,000 reporting requirement for digital asset transactions.
This postponement provides a crucial window for Bitcoin, Ethereum, and Ripple (XRP) investors to stay informed and prepare for future regulatory changes.
Crypto News Flash (CNF) reported at the end of last year in The Analyst Speaks on Crypto Investment Strategies that the ETF event had peaked with significant returns. However, a crucial update to consider is that the Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) have recently released an announcement.
This announcement informs businesses that, for the time being, they are not required to report the receipt of digital assets in the same manner as they must for cash transactions. This change will stand until the Treasury and IRS issue specific regulations.
Furthermore, the Infrastructure Investment and Jobs Act has amended the rules, now requirin
