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THESE NEW IRS RULES FOR CRYPTO ARE INSANE! HOW THEY AFFECT YOU!Bitcoin (BTC) regulation news, analysis and in-depth articles by Cointelegraph cover the latest developments in the legal status of cryptocurrencies. IRS says controversial $10k reporting rule doesn't currently apply to crypto. The U.S. must create new regulations before the rules apply beyond cash. The U.S. Congress is still wrestling over crypto, so it's unlikely that a full regulatory regime will be in place before , though court.