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Tuesday

22 June 2021

IRS Seeks Congressional Authority to Obtain Data on Cryptocurrency Transactions – Taxes Bitcoin News

IRS Seeks Congressional Authority to Obtain Data on Cryptocurrency Transactions – Taxes Bitcoin News


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IRS Seeks Congressional Authority to Obtain Data on Cryptocurrency Transactions – Taxes Bitcoin News.

Internal Revenue Service (IRS) says it needs congressional authority in order to obtain the information needed to regulate cryptocurrency.

IRS Commissioner Charles Rettig said Tuesday during a Senate Finance Committee hearing that the IRS needs more authority to do its job in regulating cryptocurrency.

The commissioner noted that the cryptocurrency market is growing and its value is now approximately $2 trillion, with more than 8,600 exchanges worldwide.

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