It could if you're a hobbyist buying/selling over $600 worth of used goods. Lots of online communities advise buyers and sellers to use PayPal goods & services for its protection.

Now, folks are on the hook for self-reporting. Previously, the thresholds were $20,000 and 200 transactions, which were maybe too lenient. Had lawmakers just halved the threshold to $10,000, I don't think most people would care. The $600 is too low, e.g. guitars easily fetch a grand, and Leica M bodies are easily over that.

Also, what are Nancy Pelosi's stock gains compared to any folks that might have been not reporting their illicit <$20k income?