After the widespread adoption of digital currencies, the United States has issued a law that requires the disclosure of user information when transferring amounts exceeding $10,000.
This law is seen as being against cryptocurrency encryption and may have a negative impact on its use. Several entities, including Coin Center, have filed appeals claiming that the law is illegal, but the judge rejected the appeals on the grounds that they did not have the right to oppose the decision. The ministry has affirmed its commitment to enforcing the law, as it will help curb tax evasion by users. It is worth mentioning that the law is expected to take effect in early 2024.