Crypto Plaintiffs Appeal Court Loss on $10,000 Reporting Rule

Plaintiffs targeting a new requirement to report cryptocurrency transactions exceeding $10,000 appealed a court’s ruling that it lacks the power to decide the case.

The US District Court for the Eastern District of Kentucky ruled July 19 that it didn’t have jurisdiction over the lawsuit, which raises several constitutional challenges to the tax code Section 6050I requirement. The appeal to the US Court of Appeals for the Sixth Circuit was docketed Tuesday.

The case was brought by Coin Center, a nonprofit that focuses on digital asset-related policy issues, as well as a company that validates cryptocurrency transactions and two cryptocurrency ...