We see mountains of fraud in this area - regulation
We see mountains of fraud in this area - regulation
A special agent of the Internal Revenue Service (IRS) says that the tax authority sees "mountains and mountains of fraud" in the field of cryptocurrency. The IRS criminal police are trying to train all of their agents in crypto and non-fungible tokens (NFT) questions because "this space is the future," he emphasized.
IRS special agent says that crypto is full of "mountains and mountains of fraud"
Ryan Korner, a special agent who is responsible for the IRS criminal police in Los Angeles, spoke at a virtual event organized by the USC Gould School of Law on Tuesday. He was quoted by Bloomberg with the words:
We are currently seeing mountains and mountains of fraud in this area.
he explained that not fungible tokens (NFTS) and crypto were generally susceptible to market manipulations, and added that top -class people could influence crypto prices with just one tweet.
The special investigator found that celebrities are not immune to the criminal investigations by the tax authority, and made it clear: "We are not necessarily looking for celebrities, but if they make an undisguised or open comment that means: 'Hey, irs, should you probably look at what we do."
Korner stated that a number of crypto -related activities for the law enforcement authorities are of relief, such as: B. People who pay millions of dollars for assets such as NFTS who do not seem to have this inherent value. He noted that criminals could use this to wash money.
The IRS confiscated crypto worth 3.5 billion US dollars in the 2021 financial year, which corresponds to 93 % of all funds that were confiscated by its criminal police investigation unit in the same period. The tax office to be expected billion more in cryptocurrency in this Year.
The IRS criminal police are trying to train all of their agents in crypto and NFT issues because "this area is the future," said the special agent and added that the authority also endeavors to strengthen cooperation and exchange information with other federal authorities.
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