Lawsuit Targeting Cryptocurrency $10,000 Reporting Rule Tossed

A federal court on Wednesday rejected a series of constitutional challenge to a new requirement for businesses to report cryptocurrency transactions worth more than $10,000.

The US District Court for the Eastern District of Kentucky dismissed the case for lack of jurisdiction, determining that several of the claims weren’t ripe for a decision.

Coin Center, a nonprofit that focuses on public policy issues affecting digital asset technologies, brought the suit along with two regular cryptocurrency users and a company that validates Bitcoin transactions through a process known as “mining.”

Congress created the requirement by expanding the definition of “cash” ...