An NFT trader just found himself facing prison time after pleading guilty to evading almost $13 million in taxes. This tax evasion is based on profits realized from the trading of CryptoPunk NFTs. Waylon Wilcox, the trader incognito, purchased and sold 97 items from the CryptoPunk NFT collection. Now he’s...
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...
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...
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...