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? Crypto Regulations YOU MUST KNOW! - ??TAXES \u0026 FBAR - Using KuCoin in the US - BIG PENALTIES [2022]FBAR is an abbreviation for Foreign Bank Account Report. You'll need to file this report with FinCEN, the US Treasury Department's Financial Crimes Enforcement. Over the past several years, a common question for U.S. taxpayers across the globe is whether or not a foreign-based virtual currency such as Bitcoin that is. Cryptocurrency has been excluded from FBAR requirements to date. However, with the recent proposed regulations, FinCEN (Financial Crimes.