US seizes $3.5bn of cryptocurrency as FCA recruits crime hit squad

Mark Battersby
clock • 2 min read

The United States IRS seized cryptocurrency worth $3.5 billion during the fiscal year of 2021. According to its latest criminal investigation report, this figure represents 93% of assets seized. The tax collection agency believes that it could seize further billions in crypto from tax fraud and other crimes over the coming year. "I expect a trend of crypto seizures to continue as we move forward into fiscal year ‘22," said IRS Criminal Investigation Chief Jim Lee. "We're seeing crypto involved in a number of our crimes as we move forward." These cryptocurrencies were seized as a...

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