US Treasury collects data on crypto transactions around the world

The administration of US President Joe Biden on Friday presented a draft budget for 2022.several points of which concern the regulation of cryptocurrencies.

The Ministry of Finance is proposed to endowadditional powers to collect information about cryptocurrency transactions within the IRS and other departments. Explanations are provided in the accompanying US Department of the Treasury publication.

"Tax evasion when usingcryptoassets are a rapidly growing problem. The global nature of crypto markets provides US taxpayers with opportunities to hide assets and taxable income through offshore crypto exchanges and wallet providers. ", - note in the department.

The Ministry of Finance proposes to expand the requirements forcryptocurrency brokers, including exchanges and custodian wallets, so that they transmit information about the beneficiaries of the accounts to the international information exchange network of which the United States is a member. The measure is also aimed at identifying business owners - from this year, US law prohibits anonymous ownership of corporate entities.

Crypto exchanges operating in the United States must already store information about their customers, so the changes primarily affect the international exchange of information.

“The proposal will require brokers, including sucheducation, such as American cryptoasset exchanges and wallet providers, to transfer information about certain passive entities and their significant foreign owners when transferring information about cryptoassets found in the brokerage accounts of such entities "The agency writes.

If approved, the requirement is expected to apply to reportingfiled after 31 December 2022.

The Ministry of Finance also proposes to introduce "comprehensive reporting on financial accounts":

“Separate reporting requirements will beapply in cases where taxpayers purchase crypto assets from one broker and then transfer them to another. Companies receiving crypto assets in transactions with a fair market value greater than $10,000 will be required to report them.", - the document says.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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