The Department of Treasure has issued new guidance that it plans to implement a new requirement for crypto transfers of at least $10,000 be reported to the Internal Revenue Service. This requirement is akin to cash transactions greater than $10,000. Continuing its rhetoric about crypto and criminal activity, the Department of Treasury called for the new guideline because “… cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion.” Of course, that threat much lower than the amount of “dollars” used for the same activities. A recent comprehensive study of cryptocurrency transactions found that less than 1% of all cryptocurrency transactions are used for illicit purposes.