I told you so. It's a phrase I usually avoid, but in the case of NFTs, it's hard to resist. The second I heard that digital monkeys were selling for the value of a mansion, my lizard brain fired up. It thrust forth the unmistakable alarm bell of a bubble!...
Recall all those times NFTs were going to completely change the art game for artists. A new digital age, one that puts power in the hands of artists and entertainers to reach their audiences directly, without the middlemen? A rosy new picture in which creatives newly had agency over their...
CryptoPunks, one of the earliest and most iconic collections of non-fungible tokens (NFTs). As with other speculative arts markets, since the NFT market peaked in the spring of 2021, its value has fallen by over 90%. Featuring 10,000 unique pixel-art characters on the Ethereum blockchain, CryptoPunks once commanded premium prices,...
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...
The world of NFTs has been a rapidly growing space in recent years, presenting innovative new spaces for artists, collectors, and investors. This new digital gold rush holds great promise. It introduces a tangled maze of tax consequences that Americans are only now beginning to understand. BlockTraderHub.com is your resource...
Waylon Wilcox, 45 of Dillsburg, Pennsylvania, recently pleaded guilty. In doing so, he avoided millions in taxes on his profits from CryptoPunks NFTs. This is not your ordinary run of the mill tax evasion case. It marks a significant new chapter in the growing tension between individual liberty and social...
Next, meet Waylon Wilcox, from Dillsburg, Pennsylvania. He’s the chap who recently plead guilty to avoiding taxes on millions he earned flipping CryptoPunks. At first glance, it’s terrible optics for the NFTs-and-blockchain-are-the-future crowd. One more headline playing into the crypto stereotype as a Wild West shadowy, shady underbelly. This actually...
Over the last few years, the landscape of NFTs (Non-Fungible Tokens) has taken off. This boom presents thrilling new opportunities for artists, collectors, and investors to take advantage of. However, this digital frontier comes with a complex web of tax implications that many are only just beginning to understand. BlockTraderHub.com...
That’s the nature of NFTs, this is a world that’s changing every day. As it rapidly swings into full force, 84 regulatory bodies including the IRS are taking closer notice. Recent events have made it clearer than ever that educating yourself and ensuring adherence with tax law governing digital assets...
One of the largest sellers of CryptoPunk NFTs has just pleaded guilty to tax evasion. This is an important precedent first for matters in the newly minted and fast-paced digital asset world. Thomas Carter Wilcox hid more than $13 million in income. Those earnings all came from the sale of...