đš US just pulled back its proposal to lower crypto transfer reporting threshold to $250
This was going to be a nightmare for privacy and small transactions. Imagine reporting every $250+ transfer to the feds.
For now, the old threshold stays in place (likely $3K-$10K range depending on context). But don't get comfortable â they'll be back with another version.
Watch for:
âą New proposals in 2024
âą IRS guidance shifts
âą State-level moves
Stay paranoid. Use privacy tools. Don't rely on governments to protect your financial freedom.
This was going to be a nightmare for privacy and small transactions. Imagine reporting every $250+ transfer to the feds.
For now, the old threshold stays in place (likely $3K-$10K range depending on context). But don't get comfortable â they'll be back with another version.
Watch for:
âą New proposals in 2024
âą IRS guidance shifts
âą State-level moves
Stay paranoid. Use privacy tools. Don't rely on governments to protect your financial freedom.