Crypto tax evasion cases are on the rise: Bloomberg

The Internal Revenue Service’s Criminal Investigations Unit is seeing an increase in its caseload of crypto tax cases, according to Bloomberg.

Bloomberg cited a reporter’s call with division head Jim Lee, during which he disclosed that the investigations range from failures to report capital gains to purposeful withholdings of crypto ownership disclosures. 

Three years ago, Lee reportedly said the majority of cases were focused on money laundering. Now, roughly half are tax related.

The tax agency’s investigations unit was just one of the agencies aiding in the Binance probe, which led to a $4 billion settlement. 

Read more: Here are the details of Binance and Changpeng Zhao’s…

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