Tuesday, December 5, 2023

Crypto is the future, but there are’mountains of fraud,’ according to an IRS special agent.

According to the top-tier agent of the United States’ IRS (Internal Revenue Service), Crypto and NFTs (Non-Fungible Tokens) are the future. But he also mentioned that frauds and bad influences are also very inevitable.

Ryan Korner, is a member of The Internal Revenue Service (IRS) Criminal Investigation from the Los Angeles office. He made this revelation on Tuesday during an online conference held by the USC Gould School of Law. He also mentioned that we are now witnessing a great deal of fraud in Non-Fungible Tokens and Cryptocurrencies.

Korner vocalized his thoughts during the event on how digital assets are a thriving fraud zone. This is a major concerning area for tax collectors and regulators because of how this whole area is abundant in tax evasion, market exploitation, and money laundering.

Ryan also points out how a high-profile celebrity or a well-known personality can influence the asset price with a single social media post. He also mentioned how celebrities take part in Twitter spaces and have crypto discussions quite often now. Like how recently, Floyd Mayweather Jr. and Kim Kardashian got into a heated argument over advancing a crooked token ETH max.

While on the topic of celebrities, he also said, “we are not exactly out here to get the celebrities. But if they are openly making bold statements that directly translates to ‘Hey, IRS, you should pay attention to me.’. Well, then that is exactly what we do”. We have to wait and watch to understand the nature of crypto.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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