Crypto is here to stay and become legitimate - regulation
Crypto is here to stay and become legitimate - regulation
A high -ranking official of the Internal Revenue Service (IRS) says: "Cryptocurrency will remain" and "It is becoming more and more legitimate". The official added that the US tax authority was striving for a partnership with crypto companies and noticed: "I don't see how we can operate in this area without them."
Top IRS official says that crypto has come to stay
Thomas Fattorusso, deputy special investigator of the New York office of the Internal Revenue Service-Criminal Investigation (IRS-CI), spoke in an interview with Wall Street Journal about cryptocurrencies at the beginning of this week.
"We cannot be hostile to the technology. We have to accept it," emphasized the IRS official and explained:
cryptocurrency is here to stay. As far as it affects me, it won't go there in the foreseeable future and it is becoming more and more legitimate. It will be more demanding over the years.
Fattorusso explained that the IRS is aiming for a partnership with crypto companies. "My idea is that these relationships will develop over the years [AS].
Fattorusso commented on the cooperation and partnership of the IRS with crypto companies and shared with:
This is something that we always work towards ... This is always the final goal - to have these partnerships and have a relationship that is not controversial, rather a symbiotic relationship.
He believes that the partnership with federal authorities "helps them [Crypto Companies] in their legitimacy." The IRS official added: "This is a new industry for everyone. I think we are still trying to find our way around.
In November last year, the head of the IRS criminal police said, Jim Lee that the tax authority is Building "Hundreds" of crypto cases.
What do you think that the IRS official says that crypto will stay here and gets more legitimate? Let us know in the comment area below.
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