The US government stated that soon it will announce the rules for taxing transactions with cryptocurrency. The announcement has frustrated traders, but in the long term the new regulations can strengthen the digital money trading system.

US residents are required to pay income tax on any profits, but many crypto investors ignore this obligation. For several years the US Internal Revenue Service (IRS) has been notifying Americans of the necessity of declaring profits from cryptocurrency transactions. But now the department has made it clear that control of this market is its top priority and taxes will become mandatory. The IRS said that it would require crypto brokers to disclose details of transactions worth more than $10,000.