While people who own and sell cryptocurrency have always had to pay taxes on their earnings, a new rule finalized by the US Treasury Department can ensure that they're paying the proper amount on their sales. The new rule will require cryptocurrency platforms like exchanges and payment processors to report their users' transactions to the Internal Revenue Service. According to The Wall Street Journal, authorities are hoping that the measure can deter tax evasion, seeing as the IRS would know exactly how much a taxpayer owes. At the same time, the rule will make it much easier for people...

https://www.engadget.com/us-treasury-finalizes-crypto-rules-to-prevent-tax-evasion-143051676.html?src=rss

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