On 1 January, the Coin Telegraph reported that FinCEN has issued a notice announcing its intention to propose a change in the Bank Secrecy Act, regarding reporting of foreign financial accounts holding digital currency. Currently, digital assets are not covered by the Foreign Bank and Financial Accounts, or FBAR, regulations. FinCEN wishes to amend regulations and would require US citizens to report cryptocurrency accounts held with foreign institutions, if they are more than $10,000 in value.
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