Jerry Brito & Peter Van Valkenburgh: Coin Center – The Current US Regulatory Landscape for Crypto
Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies
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Cryptocurrency Transactions
If the transaction happens in cash and is over ten thousand dollars, you have an obligation as an individual to collect information about your counterparty and submit it to the tax authority. So that regime, which exist for cash, is now going to be applied, if this law s became law, would be applied to crypto. Both parties would have to report on each other the government. And the problem here is that this is completely unconstitutional.
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