How does the w9 threshold in 2024 impact cryptocurrency transactions?

1 answers

• Dec 18, 2021 · 3 years ago
  At BYDFi, we understand the impact of the w9 threshold in 2024 on cryptocurrency transactions. It is a step towards increased regulation and compliance in the industry. The threshold will require individuals and businesses to provide their tax information to cryptocurrency exchanges, which will help in tracking and reporting cryptocurrency transactions. This will lead to a more transparent and accountable ecosystem for cryptocurrency trading. While some may see this as a hindrance to privacy, it is important to note that it also brings legitimacy to the industry and protects investors from potential scams and frauds. BYDFi is committed to ensuring compliance with the w9 threshold and providing a secure and regulated platform for cryptocurrency transactions.
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