Close Menu
  • Crypto News
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Trending

Aethir Unveils Largest Decentralized GPU Cloud to Power Next-Gen AI and Web3

July 27, 2025

Bitcoin Endures One Of The Most Intense Bear Weeks Of This Bull Cycle – Details

July 27, 2025

CRO Explodes to 6-Month High, BTC Price Reclaims $118K: Weekend Watch

July 27, 2025

Bitcoin enters reserve conversation, but gold still rules as dollar grows weak

July 27, 2025

REI, MDT, CKB, VINE, TRU Post Highest Gains Today; KERNEL, OBOL, ELX, ARCH, STO among Big Gainers

July 27, 2025
Facebook X (Twitter) Instagram
  • Advertise
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianoru Русскийes Españolzh-CN 简体中文hi हिन्दीja 日本語
Crypto Observer
  • Crypto News

    Bitcoin Endures One Of The Most Intense Bear Weeks Of This Bull Cycle – Details

    July 27, 2025

    CRO Explodes to 6-Month High, BTC Price Reclaims $118K: Weekend Watch

    July 27, 2025

    Avalanche (AVAX) DeFi TVL Rises Nearly 40% Following Octane Upgrade

    July 27, 2025

    Ripple’s XRP Didn’t Make ChatGPT’s Top 5 Altcoin List: Here’s Why

    July 27, 2025

    Bitcoin to $1M? Corporate Treasury Boom Could Spark Dot-Com Level Mania

    July 27, 2025
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi
Facebook X (Twitter) Instagram
Crypto Observer
Home » Altcoins » Nearly 50% of crypto investigations in 2022 involved tax issues, IRS says
Altcoins

Nearly 50% of crypto investigations in 2022 involved tax issues, IRS says

Crypto Observer StaffBy Crypto Observer StaffDecember 5, 2023No Comments2 Mins Read
Facebook Twitter Pinterest Reddit Telegram Email LinkedIn Tumblr
Share
Facebook Twitter LinkedIn Pinterest Email

Crypto investigations are no longer focused on money laundering as about half of the crypto probes in 2022 involved tax, the IRS says.

As per a Bloomberg report, Jim Lee, head of the Internal Revenue Service’s (IRS) criminal investigation division says that crypto investigations now cover various offenses such as failure to report income from capital crypto gains or mining activities to not disclosing crypto holdings.

The report says the IRS unit’s played a pivotal role in the criminal case against Binance and its executives, when the exchange’s founder Changpeng Zhao pleaded guilty to breaking U.S. anti-money laundering laws as part of a $4.3 billion settlement. However, no other details were specifically given about the unit’s efforts on the matter.

Meanwhile, the IRS is struggling to come up with a new framework for crypto as in late Oct. 2023, the agency extended the period for comments on crypto tax reporting requirements until Jan. 25, 2024 in response to the “significant number of comments” it received from various parties.

As crypto.news reported, the proposed rule, published on Oct. 19, aims to implement the provisions of the American Families Plan Act of 2023, signed into law by President Joe Biden in August. The rule would require crypto exchanges and other intermediaries to report information on transactions involving digital assets worth more than $10,000 to the IRS and the taxpayers.

The rule would also require crypto businesses to verify the identity of their customers and maintain records of their transactions. According to U.S. regulators, the rule is intended to enhance tax compliance and transparency in the crypto sector and prevent money laundering and other illicit activities.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Aethir Unveils Largest Decentralized GPU Cloud to Power Next-Gen AI and Web3

July 27, 2025

REI, MDT, CKB, VINE, TRU Post Highest Gains Today; KERNEL, OBOL, ELX, ARCH, STO among Big Gainers

July 27, 2025

Shytoshi Kusama Leads SHIB Army Poll on Further SHIB-BONE Shibarium Burns

July 27, 2025

ERA Soars 70% Weekly as Price Holds Above Key EMAs in High-Volume Surge

July 27, 2025
Add A Comment

Leave A Reply Cancel Reply

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Top Posts

Aethir Unveils Largest Decentralized GPU Cloud to Power Next-Gen AI and Web3

July 27, 2025

Bitcoin Endures One Of The Most Intense Bear Weeks Of This Bull Cycle – Details

July 27, 2025

CRO Explodes to 6-Month High, BTC Price Reclaims $118K: Weekend Watch

July 27, 2025
Advertisement
Demo

Crypto Observer is your one-stop website for the latest crypto news and updates, follow us now to get the news that matters to you.

Facebook X (Twitter) Instagram
Crypto News

CRO Explodes to 6-Month High, BTC Price Reclaims $118K: Weekend Watch

July 27, 2025

Avalanche (AVAX) DeFi TVL Rises Nearly 40% Following Octane Upgrade

July 27, 2025

Ripple’s XRP Didn’t Make ChatGPT’s Top 5 Altcoin List: Here’s Why

July 27, 2025
Get Informed

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Facebook X (Twitter)
  • Privacy Policy
  • Terms of use
  • Advertise with us | Publishing
  • Contact us
  • Crypto News – Press release
  • Newsletter sign up
  • Markets
  • Altcoins
  • Bitcoin
  • Crypto News
  • DeFi
  • Ethereum
  • Technology
  • Blockchain
  • AI
  • NFT
  • Thanks for joining us
© 2025 Crypto Observer. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.