The United States Internal Revenue Service (IRS) seized cryptocurrency worth $3.5 billion during the fiscal year of 2021.
According to the latest IRS criminal investigation report, this figure represents 93% of assets seized by tax enforcement over the past year.
The tax collection agency believes that it could seize further billions in crypto from tax fraud and other crimes over the coming year.
“I expect a trend of crypto seizures to continue as we move forward into fiscal year ‘22,” said IRS Criminal Investigation Chief Jim Lee. “We’re seeing crypto involved in a number of our crimes as we move forward.”