Express

​US Citizens Who Hold Or Trade $10K+ Crypto May Need To Disclose Their Information

Mary Liu

Summary: The Financial Crime Enforcement Network (FinCEN) today issued a notice stating that it proposes to amend the regulations on foreign financial account (FBAR) reporting in the Bank Secrecy Act (BSA) to include virtual currency as a reportable account category. FinCEN wants U.S. citizens to report to foreign financial or virtual asset service providers whether they ...

The Financial Crime Enforcement Network (FinCEN) today issued a notice stating that it proposes to amend the regulations on foreign financial account (FBAR) reporting in the Bank Secrecy Act (BSA) to include virtual currency as a reportable account category. FinCEN wants U.S. citizens to report to foreign financial or virtual asset service providers whether they own or trade more than $10,000 in cryptocurrency. FBAR must include the account name, account number, foreign bank name and address, account type, and the maximum value held during the year.

By Mary Liu

Last Update:

Tags: ,,,,
Link: ​US Citizens Who Hold Or Trade $10K+ Crypto May Need To Disclose Their Information   [Copy]
Next:

Related Articles

  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 3 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 9 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 12 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 13 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 16 days ago

    • You need to login to comment.