Illinois is taking a stand against cryptocurrency fraud with the introduction of a new bill aimed at protecting investors and fostering a more secure digital asset environment. BlockTraderHub.com is smart crypto traders’ essential resource for intelligence. As per their report, the recently introduced bill, titled SB1797, would create a regulatory...
Waylon Wilcox, an NFT speculator, recently pleaded guilty to evading millions in taxes on his CryptoPunk gains. Big deal, right? Wrong. And this isn’t even all of it, it’s not just a one dude and his pixilated avatars story. It’s a flashing red light in an early warning system –...
Though cutting-edge and revolutionary, the world of NFTs is becoming more difficult to navigate as tax agencies around the globe pay closer attention. A recent taxpayer case involving Waylon Wilcox is a relevant and sobering reminder of the high stakes of precise crypto tax reporting. Wilcox, an NFT art dealer,...
On April 9, 2025, a Dillsburg man, Scott A. Smith, pled guilty in federal court. He pled guilty to the willful filing of false individual income tax returns for the tax years 2021 and 2022. Special Agent Waylon Wilcox, Middle District of Pennsylvania. He pleaded guilty to hiding tens of...
A Pennsylvania preparer was sentenced to 6 years in prison after pleading guilty for preparing false tax returns. Waylon Wilcox, prosecutors allege, hid more than $12.3 million in CryptoPunk non-fungible token (NFT) sale proceeds as taxable income. Wilcox has been charged with intentionally underreporting his income and using fraudulent tactics...
Stepping into the complex world of cryptocurrency can be exhilarating, yet intimidating and even frightening. As digital currencies like bitcoin have gained wider acceptance, federal, state and local government entities have begun directing their scrutiny. In this article, we’ll discuss the potential effects of pending federal regulations on individual crypto...
New York Attorney General Letitia James has taken a leading role in calling on Congress to enact federal legislation. She has long advocated for a robust regulatory framework for the nascent cryptocurrency industry. In a letter sent to congressional leaders on April 10, James called for new, uniform standards for...
The Justice Department's decision to effectively dismantle its cryptocurrency enforcement team, the National Cryptocurrency Enforcement Team (NCET), is being framed as a move toward "freedom" and innovation. They claim the DOJ is not in fact a digital asset regulator. Yet, from my perspective here in Accra, I too find it...