ROLLUP: Bitcoin ETF Rumors | IRS Tax Rules | Ethereum Dencun
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Bitcoin ETF Approval and New Tax Regulations
This chapter explores the anticipation surrounding the approval of Bitcoin Exchange-Traded Funds (ETFs) in early January 2024, highlighting expert opinions and market contrasts. Additionally, it discusses new U.S. tax reporting obligations for cryptocurrency transactions over $10,000, emphasizing the confusion and challenges individuals face in complying with these regulations. The conversation raises concerns about the unclear guidance from the IRS and the implications of stringent reporting requirements on crypto users.
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