US President Joe Biden isn’t going after your bitcoin, despite online claims he’s using the IRS to shut down the cryptocurrency market.
Cryptocurrency, such as bitcoin, is a decentralized digital currency that’s gained popularity over the past few years as a potential alternative to paper currency like the U.S. dollar. Recently, in an effort to close the “tax gap,” the United States Treasury Department issued new rules for reporting large cryptocurrency transactions to the IRS. The American Families Plan Tax Compliance Agenda was released on May 20, one day after the Chinese government reissued restrictions on crypto transactions in the country.
Some online users are claiming
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