IRS head asks for more authority to get cryptocurrency data

Internal Revenue Service Commissioner Charles P. Rettig asked Congress for more authority to get cryptocurrency data, Bloomberg reports.During a U.S. Senate Finance Committee hearing, the head of the IRS said that Congress should provide clear authority to require that large crypto transfers be reported to the tax collection agency.Cryptocurrencies, which had already been sliding, continue their decline. Bitcoin (BTC-USD) falls 9.9% over the past 24 hours to $32.4K; ethereum (ETH-USD) slides 12% to $2,428; Binance Coin (BNB-USD) -13% to $340; Cardano (ADA-USD) -12% to $1.49; and dogecoin (DOGE-USD) -11% to 32 cents.But Marc Lasry, owner of the Milwaukee Bucks and founder of Avenue Capital Management, in a CNBC interview, said bitcoin rose faster than he expected."I think the probability, as more and more people start using bitcoin, is that it's going to keep going up," he said, adding that "I should have bought a lot more."Today's plunge in bitcoin was