Treasury Department to keep a close eye on cryptocurrencies
The US agency announced this week that it will strengthen measures against digital assets, since they encourage illegal activities
This Thursday, the United States Department of the Treasury announced that from now on it will monitor activities with cryptocurrencies more closely.
According to the US agency, this measure is taken because the use of digital assets encourages illegal activities such as tax evasion.
The institution will require those people who handle more than $ 10,000 in cryptocurrencies to inform the estate about this.
In a statement, the department led by Janet Yellen stressed that cryptocurrencies pose what it called “a significant detection problem because they facilitate illegal activities in general, including tax evasion.”
This measure, as indicated by the institution, also applies to companies under the same range established for natural persons.
“Companies that receive crypto assets with a fair market value greater than $ 10,000 will also need to be declared. Although cryptocurrencies are a small part of current business transactions, this comprehensive notification is necessary to minimize incentives and the opportunity to hide assets income from the new information disclosure regime”, the statement said.
K. Tovar
Source: Cointelegraph
