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
The Department of Justice (DOJ), IRS Criminal Investigations (CI) and international tax authorities continue to prosecute tax abuses related to digital asset transactions. In imposing a multiyear prison sentence in a recent...more
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
In a recent ruling, a California federal judge held that Kraken, an online cryptocurrency exchange program, has to turn over user information to the IRS as a result of a John Doe summons originally served on Kraken in 2021....more
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 -
..In June 2022, the DOJ issued a Report recommending increased cooperation amongst international law enforcement to combat crimes involving digital assets.
..The Report identified characteristics...more
6/30/2022
/ Banking Sector ,
Biden Administration ,
Central Bank Digital Currency (CBDCs) ,
Criminal Investigations ,
Cross-Border ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Executive Orders ,
FATF ,
Information Reports ,
Law Enforcement