If you receive cryptocurrency as a payment, you need to know about the new filing requirement. In general, any business that receives cash (either US dollars or any foreign currency), coins, and as of January 1st, 2024 cryptocurrency as a payment for services or goods, must report such payments on Form 8300 if the payments exceed $10,000 per transaction within 12 months. Note that “transaction” in this case does not refer to a “payment transaction” but rather a business transaction that may include several payments over an extended period of time. Amounts received from the same payer within a 24-hour period should be combined and treated as one transaction. Please, see some important exceptions below.