AmyDavis
Sat Oct 05 2024
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7 answers
1734
What is the $10000 reporting rule?
Could you elaborate on the $10000 reporting rule? I understand it's a regulation that impacts cryptocurrency transactions, but I'm unsure of the specifics. Does it mean that any time someone exchanges or sells cryptocurrency for over $10,000, they need to report it to the relevant authorities? What are the potential consequences of failing to comply with this rule? Additionally, does it apply to all cryptocurrencies or just certain ones? And how does this rule fit into the broader framework of cryptocurrency regulations?
