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ARTICLE · 09 AUGUST 2018

Update On Cryptocurrency Cybercrimes And Enforcement Actions

BakerHostetler
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Domestically, the IRS has announced a new campaign to improve reporting compliance for cryptocurrency-related gains and losses.

United StatesTechnology
Brian P. Bartish
Brian P. Bartish
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In international news, local police in the Guandong province of China recently seized more than $1.5 million worth of cryptocurrencies, including bitcoin, ether and litecoin, as part of a raid against an illegal online gambling platform that utilized the currencies to hide the proceeds of its activities. In Greece late last week, a Greek court ruled to extradite Alexander Vinnik to France, where he stands accused of defrauding French citizens through the cryptocurrency exchange BTC-e. Mr. Vinnik also faces charges in his native Russia, and many speculate that his extradition to France may be only a layover en route to the U.S., where he has been indicted on 21 charges including identity theft, facilitating drug smuggling and over $4 billion in money laundering through bitcoin.

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