"The IRS disclosed Thursday "businesses that receive crypto assets with fair market value of more than $10,000" will need to be reported."

Thankfully I'm not a business and a private individual who owns my own keys.

I take it as they are more concerned with businesses who are not reporting gains, much like if you make more than $700 or whatever the arbitrary number is to report your own gains from a hobby say Landscaping or a side business.

Obviously most people don't report everything in cash, however with crypto it's traceable so you better report.

Uncle Sam just wants their fare share of income to businesses as people are fleeing fiat.