A top special officer from the Internal Revenue Service (IRS) said at the conference that both NFT and crypto are the “future,” but stressed that: Fraud and exploitation will continue to exist.
Ryan Korner of IRS Criminal Investigation’s Los Angeles field office commented on a virtual event hosted by USC Gould Law School on Tuesday. past
from the report of Bloomberg – Korner said:
“We only see a pile of fraud. Stack after stack. In this [คริปโต]”
He said at the event that The IRS Criminal Investigation Division is well aware of the explosive growth of crypto. but added that The use of digital assets is not limited to payments and trading, Korner also outlines the potential illegal consequences. Fraud, money laundering, manipulation in the market including tax evasion, etc.
Korner is particularly focused on market manipulation, pointing out some of the best investor profiles that put prices at their fingertips in a single tweet.
He also spoke about the involvement of celebrities such as Kim Kardashian or Floyd Mayweather — who recently suffered from the promotion of allegedly fraudulent tokens like EthereumMax. Korner said:
“We don’t have to keep searching for celebrities. But when they try to be blatant or make comments like, ‘Hey IRS, come and see me,’ that’s what we have to do.”
‘These are the future’
At the event, Korner said that the reason the investigative team is training and providing training to corporate officials on crypto and NFT regulations. “These are the future,” and there’s no escape from here.
Korner also said the IRS has worked with other government agencies, including the Justice Department, to:
“Make sure everyone keeps up with everything and stays ahead of the criminals.”
IRS investigators seized $3.5 billion worth of cryptocurrencies related to the 2021 financial crimes of 2021, representing 93% of the total assets the investigators had seized at the time.
Korner said, “The IRS Criminal Investigation Division ended the year with 80 cases closed and will continue to operate consistently on any breach of crypto regulation.”