Carl A. Fornaris and Shira Peleg, of Greenberg Traurig LLP, have made available for download their article, “The Biden Administration Proposes New Cryptocurrency Reporting Rules,” published in a Greenberg Traurig Alert. The article begins as follows:
On May 20, 2021, the Treasury Department released a report that proposes new reporting requirements for transactions, including cryptocurrency transactions. Under the proposed plan, financial institutions, payment settlement entities, and digital asset exchanges and custodians would be required to report gross inflows and outflows that exceed a de minimis threshold on all business and personal accounts.
To see the full article, click here: “The Biden Administration Proposes New Cryptocurrency Reporting Rules”
Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal