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23 June 2021

IRS needs congressional authority to handle crypto, says chief

IRS needs congressional authority to handle crypto, says chief


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In a Tuesday senate hearing on the IRS’ fiscal year 2022 budget, Rettig said that the agency would likely require a "clear dictate from Congress" to regulate crypto.

"The most recent market cap in that world — in the crypto world — exceeded $2 trillion and more than 8,600 exchanges worldwide, and by design most crypto, virtual currencies are designed to stay off the radar screen, so we will be challenged.”.

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cointelegraph.com
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