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I'm just curious about a matter concerning cryptocurrency. Could you clarify what happens if an individual fails to report their crypto transactions? I've heard rumors that there could be serious consequences, but I'm not quite sure of the specifics. Could you elaborate on the potential civil fines and penalties involved? Is it true that there could be fines as high as $100,000? And what about criminal sanctions? Could someone face imprisonment for not reporting crypto transactions? If so, how long could the sentence potentially be? Your insight would be greatly appreciated.
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