-1.96% Bitcoin (BTC) 90150.1 EUR
-1.61% Ethereum (ETH) 2068.13 EUR
-1.01% Litecoin (LTC) 72.35 EUR
+4.74% B-Cash (BCH) 443.66 EUR
+0.39% Ethereum (ETH) 0.0231694 BTC
+1.00% Litecoin (LTC) 0.00081103 BTC
+6.81% B-Cash (BCH) 0.00492173 BTC
-1.19% Bitcoin (BTC) 107502.4406 USDC
-0.79% USD Coin (USDC) 0.84 EUR
-1.63% Chainlink (LINK) 11.19 EUR
+0.29% Chainlink (LINK) 0.00012418 BTC
-3.66% Dogecoin (DOGE) 0.13 EUR
-1.29% Dogecoin (DOGE) 0.00000152 BTC
-3.24% Uniswap (UNI) 5.99 EUR
-1.20% Uniswap (UNI) 0.00006645 BTC
-2.58% Cardano (ADA) 0.47 EUR
-0.37% Cardano (ADA) 0.00000528 BTC
-0.47% Tron (TRX) 0.23 EUR
+1.15% Tron (TRX) 0.00000263 BTC
-2.73% Shiba Inu (SHIB) 0.0000096 EUR
-8.57% Zcash (ZEC) 31.43 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
-10.79% Arbitrum (ARB) 0.3279 USDC
-0.89% Chainlink (LINK) 13.08 USD
-1.12% Chainlink (LINK) 13.09036 USDC
-2.35% Uniswap (UNI) 7.004 USDC
-3.67% Ondo (ONDO) 0.63 EUR
-2.79% Ondo (ONDO) 0.74677 USDC
-6.16% Gala (GALA) 0.01 EUR
-5.46% Gala (GALA) 0.01366 USDC
-2.74% Wormhole Token (W) 0.06 EUR
-2.20% Wormhole Token (W) 0.0709 USDC
-4.73% Chiliz (CHZ) 0.02 EUR
-4.17% Chiliz (CHZ) 0.03417 USDC
-3.42% Sand (SAND) 0.19 EUR
-2.67% Sand (SAND) 0.2331 USDC
-2.36% Aave (AAVE) 225.11 EUR
-1.29% Aave (AAVE) 265.67 USDC
+1.01% Curve DAO (CRV) 0.43 EUR
+1.69% Curve DAO (CRV) 0.5157 USDC
-5.69% Immutable X (IMX) 0.36 EUR
-4.81% Immutable X (IMX) 0.4309 USDC
0.00% Skale (SKL) 0.07 USDC
-4.09% Beam (BEAM) 0 EUR
-2.99% Beam (BEAM) 0.00551 USDC
0.00% Axelar (AXL) 1.05 USDC
-4.12% Livepeer Token (LPT) 5.14 EUR
-3.62% Livepeer Token (LPT) 6.069 USDC
-5.07% Compound (COMP) 36.07 EUR
-4.24% Compound (COMP) 42.59 USDC
+5.18% Coti (COTI) 0.04 EUR
+5.89% Coti (COTI) 0.0521 USDC
0.00% Portal (PORTAL) 1.1 USDC
+4.94% Sushi (SUSHI) 0.51 EUR
+4.77% Sushi (SUSHI) 0.6034 USDC
+6.74% Pepe (PEPE) 0 EUR
+6.81% Pepe (PEPE) 0.00000988 USDC
+7.79% Optimism (OP) 0.48 EUR
0.00% Polygon (MATIC) 0.2 EUR
+10.10% Solana (SOL) 133.64 EUR
+10.67% Solana (SOL) 0.001463 BTC
+7.89% Solana (SOL) 0.063179 ETH
+0.34% USD Coin (USDC) 0.72 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

Coin Center Sues US Treasury Over 'Unconstitutional' Tax Reporting Rule

06-13-2022

AUSTIN, Texas — Crypto think tank Coin Center filed a lawsuit against the U.S. Treasury Department and Internal Revenue Service on Friday, claiming a crypto tax reporting requirement enshrined in last year's 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. The provision was one of several included in last year's infrastructure bill, which also included a controversial crypto tax reporting requirement that applied to brokers. That provision galvanized a massive industry backlash, although the prevision was ultimately unsuccessful.

 

"The reporting mandate would force Americans using cryptocurrency to share intrusive details about themselves, both with each other and with the federal government," the lawsuit said. "Under the terms of the mandate, everyday senders and receivers of cryptocurrency would be forced to reveal their names, Social Security numbers, home addresses another personal identifying information."

According to the suit, Coin Center is concerned that the rule would require Americans to store sender information for up to a year in case any given set of transactions could be deemed "related," if the total ultimately reaches $10,000 or more.

Treasury Secretary Janet Yellen and IRS head Charles Rettig are both named defendants in the suit.

 

Source: Coindesk