A recent update from the Internal Revenue Service (IRS) crime unit reveals that its investigation unit, which played a pivotal role in the investigation of Binance Holdings Ltd., is currently witnessing a notable uptick in cases related to cryptocurrency tax evasion. Jim Lee, the chief of the IRS’s criminal investigation division, shared this information during a press briefing held on Monday, December 4.
Are Crypto Investors Evading Taxes?
Jim Lee highlighted a significant shift in the nature of crypto-related investigations over the past three years. In the past, the majority—over 90%—of active cryptocurrency investigations primarily focused on money laundering. However, in the last year, Lee noted that approximately half of the ongoing digital asset probes are around tax-related issues.
The euphoria surrounding #Bitcoin crossing $40K over the weekend (and $42K today) continues trending across #crypto platforms. And with major 2023 gains for most traders, we see rising discuss
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