Coin Center Files Suit Against US Treasury and IRS Over ‘Unconstitional’ Tax Reporting Rule

Crypto think tank Coin Center filed a suit against the U.S. Treasury Department and Internal Revenue Service on Friday, claiming a crypto tax reporting requirement enshrined in a 2021 infrastructure law is “unconstitutional.”

The requirement, which will take effect in 2024, requires U.S. taxpayers who receive over $10,000 in cryptocurrency to report the social security numbers and other personal information of the sender.

Global Crypto-to-Cash Service Launched on the Stellar Network by‍ MoneyGram Is Laying Off 5% of Workforce Amid the Bear Market