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The IRS predicts billions in cryptocurrency seizures from fraud schemes next year after taking $3.5 billion this year
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The Internal Revenue Service said cryptocurrencies worth billions of dollars could be seized again next year.
That's after it retrieved $3.5 billion worth of crypto in fiscal year 2021, making up 93% of all assets seized by the agency that year, according to the IRS annual report.
During a call reported by Bloomberg, the IRS Criminal Investigation Chief Jim lee said he expects the trend of crypto seizures to continue in fiscal year 2022.
The IRS said in its annual report that cybercrimes affecting the US tax and financial systems are seeing «exponential growth» and added that it has prioritized training on criminal schemes related to cryptocurrency and blockchain.
As part of that prioritization, the criminal investigation unit is
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