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US Government Considers Expanding Reporting Requirements for Cryptocurrency Transactions

In a move that could have significant implications for the world of cryptocurrency, the US Treasury and Federal Reserve are currently discussing the possibility of broadening the definition of moneyunder the Bank Secrecy Act. This proposed change would encompass virtual currencies and digital assets, and would require additional reporting from those involved in these types of transactions. As the debate continues, many are closely watching to see how this potential mandate could impact the growing crypto market.