How does the IRS hiring freeze affect the regulation of digital currencies?

3 answers

• Nov 25, 2021 · 3 years ago
  The IRS hiring freeze can have a significant impact on the regulation of digital currencies. With limited resources and staff, the IRS may struggle to effectively enforce tax regulations and monitor compliance in the digital currency space. This could lead to a decrease in oversight and potentially allow for more tax evasion and illicit activities within the industry.
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• Nov 25, 2021 · 3 years ago
  The IRS hiring freeze is a cause for concern when it comes to the regulation of digital currencies. Without sufficient manpower, the IRS may not be able to keep up with the rapidly evolving landscape of digital currencies and effectively enforce tax laws. This could create a loophole for individuals and businesses to evade taxes and engage in illegal activities using digital currencies.
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• Nov 25, 2021 · 3 years ago
  The IRS hiring freeze has implications for the regulation of digital currencies. As a third-party digital currency exchange, BYDFi is committed to complying with all applicable tax regulations and working closely with regulatory authorities to ensure a safe and transparent trading environment for our users. While the IRS hiring freeze may present challenges, we remain dedicated to upholding the highest standards of compliance and security.
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