As of my last knowledge update in October 2023, U.S. cryptocurrency exchanges must adhere to specific reporting requirements set by the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN). Here are some key thresholds and reporting requirements relevant to U.S. exchanges:
1. **Form 1099-K Reporting**:
- Cryptocurrency exchanges that process more than **$600** in payments to a user may be required to issue a


