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U.S. tax office sets sights on cryptocurrency users

There is information that the U.S. tax authorities may put pressure on the owners of cryptocurrency. This information for the time being  will affect only possible violations of tax laws, but too much smoke not to be fire. The U.S. Internal Revenue Service has started sending letters to potential holders of cryptocurrency about their violation of federal tax laws.

The actions are planned to be completed before the beginning of autumn, and the information comes from the head of IRS, Charles Rettig, who added: “Taxpayers should take these letters seriously. IRS is expanding its activities, including сryptocurrency as well” (if you want to make money in the financial market use our  forex robots)

While there is no information about how these letters will turn for cryptocurrency holders, it is noted only that we can talk about fines.

It is worth recalling that quite recently, namely at the beginning of this month, U.S. President Donald Trump spoke negatively about virtual money, in such a context that they are unreliable and can contribute to the prosperity of criminal activity.

Photo: Pixabay

Meanwhile, the cryptocurrency rates on Monday turned out to be mixed:

  • Bitcoin lost in weight 0.50 percent, up to $9,466;

  • Ethereum, on the contrary, added 0.08 percent, to $207.97;

  • Ripple fell 0.65 percent to $0.3067;

  • Bitcoin Cash rose 0.69 percent, to $304.80;

  • Litecoin went down 0.35 percent, to $88.84.

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