IRS special agent: Crypto's the future but there are ‘mountains of fraud’
IRS chief sees “mountains and mountains” of fraud in NFTs and cryptocurrencies as demand continues to rise going forward in 2022. A top special agent from the Internal Revenue Service has told a conference that NFTs and crypto are the “future” but highlighted that fraud and manipulation is still rampant in the space. Ryan Korner from the IRS Criminal Investigation’s Los Angeles field office made the comments virtual event held on Tuesday by the USC Gould School of Law, Korner. Bloomberg reports Korner said: “We’re just seeing mountains and mountains of fraud in this area.”He told the event....
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A special agent with the Internal Revenue Service (IRS) says the tax agency is “seeing mountains and mountains of fraud” in the cryptocurrency space. The IRS criminal investigation unit is trying to train all of its agents on crypto and non-fungible token (NFT) issues because “this space is the future,” he stressed.
IRS Special Agent Says Crypto Is Rife With ‘Mountains and Mountains of Fraud’
A special agent in charge of the IRS’ criminal investigation division in Los Angeles, Ryan Korner, talked about cryptocurrency at a....
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The IRS is hot on the trails of cryptocurrency and non-fungible tokens. They see these as fertile grounds for fraud, including tax evasion, market manipulation, and money laundering. Unfortunately, whether it’s a celebrity or not, people are always susceptible to getting into the trap. The popularity of digital assets has created a new challenge for government agencies to regulate this modern-day currency. Regulators are working out how best to enforce existing laws and deter investors from engaging with criminal activity. But it will be an uphill battle without more resources or....