Texas Court Orders Bitcoin Investor to Surrender Crypto Keys in Tax Fraud Case

Jan 08 2025 crypto


The post Texas Court Orders Bitcoin Investor to Surrender Crypto Keys in Tax Fraud Case appeared first on Coinpedia Fintech News In a landmark ruling, a Texas federal court has ordered Bitcoin investor Richard Ahlgren III to surrender encryption keys unlocking $124 million in crypto. Ahlgren, convicted of tax evasion for failing to report $3.7 million in Bitcoin sales, must also disclose devices used to store crypto and is barred from transferring assets without court approval. This precedent-setting case highlights the government’s efforts to enforce crypto tax compliance, targeting sophisticated attempts to obscure blockchain transactions. Ahlgren faces two years in prison and must pay $1 million in restitution following his December conviction.

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