Crypto sites got the letter from the I R S on new reporting requirements.
Gov't wants their cut.
I read rules at a few sites
Don't they only send you irs forms if you leave your money in that site and profit from the market value?
For example:
If over a year, you deposit $10000 cash, transfer out $10000 bitcoin
Then deposit $20000 bitcoin, transfer out $20000 to bank....you are now +10,000 moving money to your bank.
You won't get an irs letter because you didn't make that money on their site
Is that correct?