What are the FBAR reporting requirements for individuals with cryptocurrency holdings in 2022?

1 answers

• Daniel ApololaSep 26, 2023 · 2 years ago
  At BYDFi, we understand the importance of complying with regulatory requirements. In 2022, individuals with cryptocurrency holdings need to be aware of the FBAR reporting requirements. If you have a financial interest in or signature authority over foreign financial accounts, including cryptocurrency exchanges located outside of the U.S., and the aggregate value of these accounts exceeds $10,000 at any time during the year, you must file the FBAR form with FinCEN. It's crucial to stay compliant and avoid any potential penalties. Remember, BYDFi is here to support you in navigating the cryptocurrency landscape and ensuring regulatory compliance.
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