Anyone who thought blockchain would keep their cryptocurrency transactions private from the IRS needs to think again. According to the First Circuit’s recent holding, cryptocurrency users do not have a Fourth Amendment...more
10/8/2024
/ Blockchain ,
Coinbase ,
Criminal Investigations ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Enforcement ,
Enforcement Authority ,
Fourth Amendment ,
HIPAA Privacy Rule ,
Investigations ,
Investors ,
IRS ,
John Doe Investigation ,
Law Enforcement ,
Personal Data ,
Summons ,
Third-Party
Long-awaited enforcement actions may be coming soon for those who took advantage of the lucrative tax breaks offered by the Commonwealth of Puerto Rico without meeting the requirements. Prosecutions may also follow for...more
7/27/2023
/ Criminal Investigations ,
Department of Justice (DOJ) ,
Enforcement ,
Enforcement Actions ,
Investigations ,
IRS ,
Puerto Rico ,
Relief Measures ,
Residency Requirements ,
Tax Avoidance ,
Tax Exemptions ,
Technology Sector ,
Voluntary Disclosure
Takeaways:
..2022 IRS Criminal Investigation Annual Report highlights significant prosecutions and identifies cryptocurrency as an area of top priority heading into 2023.
..Criminal Investigation Chief Jim Lee...more
Key Takeaways -
..Taxpayers could be criminally and civilly liable under state False Claims Act statutes for underreporting income linked to virtual currency.
..While the federal False Claims Act explicitly excludes tax...more
5/24/2022
/ Criminal Prosecution ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement ,
False Claims Act (FCA) ,
Infrastructure Investment and Jobs Act (IIJA) ,
IRS ,
Popular ,
Reporting Requirements ,
Tax Avoidance ,
Tax Fraud ,
Whistleblowers
Crypto Firms Pursue Bank Charters, Traditional Financial Firms Integrate Crypto - This week, the Wyoming Division of Banking granted a new Special Purpose Depository Institution (SPDI) bank charter to Commercium Financial...more