US Treasury Department said Thursday that it will require reporting of all departures with cryptocurrencies, the amount of which exceeds the value of $ 10,000. The reason is the fear of that absolute freedom v oblasti kryptoměn may promote illegal activities, including tax evasion. The initiative was also supported by the President of the Supreme Financial Authority of the USA Biden.
The published report states that although they are cryptocurrency transactions With only a small portion of all business transactions within the United States, monitoring larger financial transactions should significantly help in resolving illegal financial flows. Newly, the Office should gain more powers in this area IRS (Internal Revenue Service), which is responsible for collecting taxes.
The current US administration includes this step in a broader effort to reduce it two-tier tax system, in which ordinary citizens and smaller companies pay taxes, while large players in the financial and manufacturing markets have the tools to avoid paying taxes. Cryptocurrencies, which are unregulated in principle and whose transactions cannot be verified in any way, could be just such a tool.
The question is whether the US authorities will not take the next steps. After great growth in the first months of the year, they have cryptocurrencies problems. She withdrew their support for bitcoin Tesla and reservations this week announced extensive regulation of cryptocurrencies as well China. In addition, Bitcoin has long been criticized for its energy intensity. If it comes from the side USA to more extensive regulations, cryptocurrency prices could fall sharply.
Source: theverge.com
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