IRS Investigating Crypto Traders!
Prosecutors in the United States and Internal Revenue Service (IRS) officials are apparently looking into affluent crypto traders and fund managers who are suspected of unlawfully profiting from Puerto Rico's tax benefits.
According to a June 12 Bloomberg report, investigators are currently building civil and criminal cases against a number of hedge fund managers, cryptocurrency traders, and other wealthy Americans who may have lied about the nature of their residency and key elements of their income in order to unfairly benefit from the tax breaks.
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