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Treasury Secretary Janet Yellen says extra authorities regulation is required to police the proliferation of cryptocurrency and keep off fraudulent or illicit transactions. One potential upside is that customers would get documentation of their crypto dealings to be used in filing their taxes. “Taxpayers ought to obtain the identical kind of tax reporting on digital asset transactions that they obtain for transactions in shares and bonds, in order that they’ve the knowledge they should report their earnings to the IRS,” Yellen mentioned in remarks Thursday at American College.