The IRS and the US Treasury have announced that businesses do not need to report cryptocurrency payments over $10,000 pending the introduction of proposed regulatory measures. 📣 The authorities plan to provide the public with the opportunity to express their opinion on this issue.

This clarification follows the authorities' previous statement confirming that businesses are exempt from reporting digital assets on a par with cash transactions.

The new rules have been delayed by a lawsuit filed in 2022 by lobbying group Coin Center, which argues the rule would create a system of mass surveillance that affects everyday Americans. 🏛️