Cryptocurrency Q&A Does KYC report to IRS?

Does KYC report to IRS?

Silvia Silvia Fri Sep 27 2024 | 7 answers 1229
Excuse me, I'm curious about the relationship between KYC and the IRS. Could you please clarify whether the Know Your Customer (KYC) process reports directly to the Internal Revenue Service (IRS)? I understand that KYC is a crucial step for cryptocurrency exchanges and other financial institutions to verify the identity of their clients, but I'm unsure if this information is shared with tax authorities like the IRS. It would be greatly appreciated if you could provide some clarity on this matter. Does KYC report to IRS?

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