News Explorer — Early Bitcoin Investor Sentenced to Prison for Underreporting Capital Gains, Marking First U.S. Crypto Tax Evasion Case

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Dec 13, 11:59 am

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Early Bitcoin Investor Sentenced to Prison for Underreporting Capital Gains, Marking First U.S. Crypto Tax Evasion Case

A Bitcoin investor from the Satoshi era was sentenced to two years in prison for underreporting capital gains from selling $3.7 million worth of BTC, marking the first U.S. criminal tax evasion case focused solely on cryptocurrency. The investor misrepresented figures to his accountant and tax filings, resulting in a tax loss of over $1 million.

A Bitcoin investor from the Satoshi era was sentenced to two years in prison for underreporting capital gains from selling $3.7 million worth of BTC, marking the first U.S. criminal tax evasion case focused solely on cryptocurrency. The investor misrepresented figures to his accountant and tax filings, resulting in a tax loss of over $1 million.

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