A U.S. court orders a Bitcoin investor to hand over cryptocurrency keys in a tax fraud case

2025-01-08 18:11:30

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ChainCatcher news, according to Cointelegraph, a federal court in Texas has ordered a Bitcoin investor to hand over cryptocurrency keys in a tax fraud case involving unreported sales of $3.7 million in BTC.

Reportedly, these keys can unlock approximately $124 million in cryptocurrency. The scope of the order is not limited to wallet access; it also stipulates that the investor and any accomplices are prohibited from transferring or hiding any digital assets without court approval, although they may use the funds for "normal monthly living expenses."

Previous news reported that the U.S. Department of Justice has initiated a criminal prosecution solely for crypto tax evasion for the first time, sentencing a man who failed to report $3.7 million in Bitcoin gains to two years in prison.

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