In 2021, the IRS confiscated 1,700 times more cryptocurrency than in 2019

Briefly:

  • For 2021 year US IRS confiscated $ 1.2 billion worth of cryptocurrencies
  • It’s on 170 10% more than 2020
  • At the same time, the department believes that this figure will increase next year as interest in the industry only grows

This year IRS (IRS) seized $ 1.2 billion in digital assets. In 2020 this indicator was 137 million dollars, and in 2019 and at all 700 one thousand dollars.

The head of the cybercrime department of the management Jared Koopman believes this is due to the surge in popularity of cryptocurrencies. The sphere has become more accessible, and the turnover of illegal transactions in it has increased significantly.

What will happen to the confiscated bitcoins is still unknown. In the past, the management often held auctions at which they sold off cryptocurrency.

Trades were last organized for the BitConnect portfolio of assets in the amount of 56 million dollars. The proceeds were transferred to the victims of the fraud.

The service does not deny the likelihood that this figure will increase next year. Trading volume in the digital asset sector is constantly growing, which is why the department has an increased interest in this area. In addition, the federal government is considering a package of measures to regulate cryptocurrencies. Among the initiatives are the licensing of exchanges, their taxation, measures to protect crypto investors and control the financial flows of stablecoins.

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