Security News > 2021 > May > Toyota rear-ended by twin cyber attacks that left ransomware-shaped dents
2021-05-21 05:05
American businesses that receive payments in cryptocurrencies worth $10,000 or more will have to report those transactions to the Internal Revenue Service, the United States' Treasury mentioned on Thursday.
This simply puts crypto-coins on the same footing as cash: the IRS says "Federal law requires a person to report cash transactions of more than $10,000," we note.
The Treasury's announcement about Bitcoin et al just says "Businesses" in its fairly vaguely worded, one-sentence announcement, though we imagine that'll be expanded at some point to person when this is all formalized.
News URL
https://go.theregister.com/feed/www.theregister.com/2021/05/21/toyota_cyber_attacks/
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