US unveils new reporting rules for cryptocurrency brokers

US unveils new reporting rules for cryptocurrency brokers

FILE PHOTO: Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic//File Photo

Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users’ sales and exchanges of digital assets to the Internal Revenue Service (IRS) under a proposed U.S. Treasury Department rule published on Friday.

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