Treasury Department Going After Cyrptocurrency Market With New Regulations

(Washington, DC) — The Treasury Department is going after the cryptocurrency market with some new regulations. Transfers of ten-thousand dollars or more of the digital asset must be reported to the IRS. The department said “Cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion.” The news did hit the price of Bitcoin. It had been up nine-percent, but is now up just over one-percent.