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An early BTC investor was sentenced by a US court for falsely reporting Cryptocurrency income
Wu learned that, according to the announcement of the US Department of Justice, an early BTC investor was sentenced to imprisonment for falsely reporting Cryptocurrency income. The man from Austin, Texas was sentenced to two years in prison for falsely reporting capital gains from selling BTC worth $3.7 million in his tax return, and was ordered to pay corresponding compensation. These gains came from his large early investments in BTC and subsequent transactions. The court ruled that his behavior constituted serious tax fraud and violated US tax law.