IRS Investigates Unauthorized Cryptocurrency Exchanges

IRS Investigates Unauthorized Cryptocurrency Exchanges

Cryptocurrency
February 10, 2018 by Bitzamp
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IRS Investigates Unauthorized Cryptocurrency Exchanges The United States Internal Revenue Service (IRS) has assembled a team of 10 investigators for international criminal investigations and found fraudsters who feed the Bloomberg cryptocurrency Thursday, February 8. The head of the IRS Criminal Investigation Division, Don Fort, said the team was working with international criminal organizations to investigate
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IRS Investigates Unauthorized Cryptocurrency Exchanges
The United States Internal Revenue Service (IRS) has assembled a team of 10 investigators for international criminal investigations and found fraudsters who feed the Bloomberg cryptocurrency Thursday, February 8.

The head of the IRS Criminal Investigation Division, Don Fort, said the team was working with international criminal organizations to investigate unauthorized exchanges
“It is possible to use Bitcoin and other cryptocurrences in the same way as foreign bank accounts to facilitate tax evasion.”
According to Fort, crypto users are changing their crypto currency.
“We know you’re going to get your money at some point.”

In March 2014, the IRS issued guidelines for the imposition of cryptocurrency, which treated as a property that had capital gains or capital losses for tax purposes. However, only 802 people complied by depositing their own cryptocurrency gains or losses for their taxes in 2015.

The IRS has faced obstacles this year in trying to get access to a court order to inform users about the crypt exchange coinbase. Their initial application of more than 500,000 users was rejected by the courts and reduced to $ 14,000.
The starting point for a partial win is a precedent for the relationship between taxing governance bodies and crypto exchanges that are committed to protecting the privacy of users.

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