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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsYellen calls for crypto regulation to reduce risks, fraud
ABC NewsWASHINGTON -- Treasury Secretary Janet Yellen says more government regulation is needed to police the proliferation of cryptocurrency and ward off fraudulent or illicit transactions.
One potential upside is that users would get documentation of their crypto dealings for use in filing their taxes.
Taxpayers should receive the same type of tax reporting on digital asset transactions that they receive for transactions in stocks and bonds, so that they have the information they need to report their income to the IRS, Yellen said in remarks Thursday at American University.
It was Yellens first speech about cryptocurrency since President Joe Biden signed an executive order on digital assets in March.
One potential upside is that users would get documentation of their crypto dealings for use in filing their taxes.
Taxpayers should receive the same type of tax reporting on digital asset transactions that they receive for transactions in stocks and bonds, so that they have the information they need to report their income to the IRS, Yellen said in remarks Thursday at American University.
It was Yellens first speech about cryptocurrency since President Joe Biden signed an executive order on digital assets in March.
(one of the quotes was drafted by my wife...)
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Yellen calls for crypto regulation to reduce risks, fraud (Original Post)
brooklynite
Apr 2022
OP
Hell yeah! Ah, but the "common sense party" is dutifully against regulations.. n/t
TeamProg
Apr 2022
#2
BootinUp
(47,154 posts)1. yep. nt
TeamProg
(6,135 posts)2. Hell yeah! Ah, but the "common sense party" is dutifully against regulations.. n/t
dixiechiken1
(2,113 posts)3. Gee, ya think?
in2herbs
(2,945 posts)4. Mesa AZ recently announced that they were accepting crypto for payments. Here's an idea: say no
to crypto.
OnDoutside
(19,956 posts)5. Less talk, more action.
oasis
(49,387 posts)6. Kleptocurrency. nt