Coin Center Sues US Treasury Over ‘Unconstitutional’ Tax Reporting Rule

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.