Cryptocurrency, New Regulations, and the FATF
One of the biggest recent developments – and currently flying under most people’s radar -- is the new regulations from the inter-governmental Financial Action Task Force (FATF) that have been imposed upon crypto exchanges globally. The new regulations require relinquishing certain customer data on any transaction involving 1,000 USD/EUR or more. These are supplemental changes not to be confused with IRS Notice 2014-21, which discusses separate tax reporting requirements for payments to various non-employees involving digital currency. These new regulations are part of an effort to make digital transactions over blockchain more transparent, albeit at the mercy of increased governmental oversight, designed to continue the fight against the criminal use of digital assets. atOptions = { 'key' : '01f0cfc6b1ab805f594875ca599f22f1', 'format' : 'iframe', 'height' : 90, 'width' : 728, 'params' : {} }; #eae5e1; font-siz
