Cryptocurrency Q&A
Will IRS track crypto?
Will IRS track crypto?
Davide
Mon Nov 04 2024
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5 answers
1279
I am wondering if the Internal Revenue Service (IRS) in the United States will track or monitor cryptocurrency transactions. I want to know if my crypto activities are being watched by the tax authorities.
5 answers
BenjaminMoore
Wed Nov 06 2024
Public blockchains, including platforms like Bitcoin and Ethereum, record all transactions in a transparent manner.
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Valentino
Wed Nov 06 2024
This means that anyone with access to the blockchain can view the transactions, adding a layer of visibility.
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Ilaria
Wed Nov 06 2024
Regulatory bodies, such as the IRS, have the capability to analyze these transactions.
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Valentina
Wed Nov 06 2024
By cross-referencing data, the IRS can potentially LINK 'anonymous' cryptocurrency transactions to identifiable individuals.
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Nicola
Wed Nov 06 2024
Cryptocurrency transactions, despite their pseudo-anonymity, possess a traceable nature.
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