The federal government and several other states have increased their focus on the regulation and taxation of cryptocurrency and other digital assets.
On March 9, 2022, President Biden issued an executive order calling for evolution and alignment of the federal government’s approach to digital assets with key priorities to include: consumer and investor protection; financial stability; illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation. This call to action reflects the government’s desire to take more focused and coordinated steps to address the risks and cultivate the benefits of digital assets and their related technology.
- IRS Cryptocurrency Enforcement and Stablecoins
- Proposed FBAR Reporting For Crypto
- 2023 IRS Cryptocurrency Reporting Requirements
- Justice Announces First Director of National Cryptocurrency Enforcement Team
- IRS Seized $3.5B In Crypto In Fiscal 2021 and May Seize Billions More In 2022
- Cryptocurrency Is The IRS Criminal Investigation Unit's Primary Focus