The Treasury Department announced today (5/21/21) that transfers of $10,000 USD or more to/from crypto accounts will have to be reported to the IRS, following the old pattern of requiring reporting of $10,000 or more in cash transactions. The announcement doesn't say when this will start, but it will likely be very soon.
Does anyone think (based on what's out there) that this could be interpreted to apply to cumulative totals, rather than single-transaction events? In other words, if I transfer a total of $10k over some short time period (say a week), is it likely they will expect that to be reported, even though no single transaction crossed the threshold?