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U.S Internal Revenue Service prepares to take stringent action against cryptocurrency tax evaders

While Bitcoin has revolutionized the digital currency and decentralized finance space, Bitcoin has often been followed by its dark past. Its wide use on the dark net and its association with Silk Road has lent it a slightly shady reputation. Despite the long demise of the Silk Road, the cryptocurrency continues to be beset with money laundering and terrorism concerns.

Recently, Gary Alford, famous for his involvement in the Silk Road case, attended a panel discussion on crypto-crimes. Now a cyber-crime coordinator, Alford stated that the IRS plans to keep a tab on crypto-currency investors who are avoiding taxes on crypto-earning.

The panel, first covered by Forbes, quoted Alford as saying,

“We’re usually behind the curve — history is made and then we react to it….

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