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"anyone who receives $10,000 or more in cryptocurrency in the course of their trade or business to make a report to the IRS about that transaction. The report must include, among other things, the name, address, and Social Security number of the person from whom the funds were received, the amount received, and the date and nature of the transaction."

Lol why would anyone comply with this. At the same time, what if someone hates you enough to send your account $10k, and make it impossible for you to report their info = instant felony

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that last part is pure savage, lol.

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I member' when crypto was for "privacy".

I guess cash is still king?

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It's worth noting that this applies specifically to businesses and is functionally the same as SAR requirements for cash.

Customer buys a $15k car for cash? Customer buys the same car in BTC? SAR either way that gets tossed into a great void of no one gives a shit paperwork.