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IRS Chief Asks Congress for Authority to Get Cryptocurrency Data

  • Rettig says IRS has been challenged in trying to collect data
  • Biden administration proposing broader reporting requirements
Charles Rettig during the Senate Finance Committee hearing on June 8.

Charles Rettig during the Senate Finance Committee hearing on June 8.

Photographer: Evelyn Hockstein/Reuters/Bloomberg

From

The Internal Revenue Service needs more authority from Congress to regulate the cryptocurrency industry and require more reporting on its users, Commissioner Charles Rettig said Tuesday.

“We get challenged frequently, and to have a clear dictate from Congress on the authority of us to collect that information is critical,” Rettig said during a Senate Finance Committee hearing.