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IRS Is Targeting Illicit Bitcoin Trading And Money Laundering on Telegram

IRS Is Targeting Illicit Bitcoin Trading And Money Laundering on Telegram



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15 Comments

  1. Some criminals need to grow some brain and have to stop exchanging funds for illicit activities on BTC’s blockchain, public ledgers are called public for a reason…

    I just hope this doesnt backfire on projects with genuine consumer privacy goals like XMR and similar

  2. >The IRS is these days paying much closer attention to crypto crime—and the wider crypto market in general. President Joe Biden’s administration last month unveiled a new tax plan that would force businesses that conduct cryptocurrency transfers of $10,000 or more to report these dealings to the IRS.

    >And last week, IRS Commissioner Charles Rettig asked for explicit congressional authority to regulate cryptocurrencies and more closely monitor and collect crypto data. The US Treasury Department said recently that “cryptocurrency already poses a significant detection problem by facilitating illegal activity.”

    If they execute detection and seizure for laundered crypto the same way they do USD then I would say their reach is reasonable. I still wonder and worry how that reach will change as time goes on.

  3. sounds like a farce that these nitpickers are trying to wring dollars out of any smallest tax-fish, while their “boss” Biden is printing new dollars trillions-wise almost each month now. xD

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  5. tldr; The IRS is paying close attention to P2P exchanges on Telegram, a privacy-preserving chat app that encrypts users’ messages. The agency is concerned that these exchanges can quickly and easily shift dirty or stolen funds. The IRS is less worried about standard exchanges or coin swap protocols such as ShapeShift.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

What do you think?

Why do whales move their coins into many addresses with tiny amounts of bitcoin per address? (more info in the body)

How it started vs How it is going