INSUBCONTINENT EXCLUSIVE:
assets, citing repeated failures to follow established protocols.In a Tuesday report, the US Treasury Inspector General for Tax
Administration said its evaluation of the IRS Criminal Investigation (IRS-CI) revealed shortcomings around the seizure and safeguarding of
According to the government watchdog, the IRS failed to follow all guidelines between December 2023 and January 2025 for seizure memorandums
IRS-CI personnel are familiar with and adhere to seizure memorandum requirements; establishing an inventory system that can manage seized
digital assets to include accurately tracking the quantity of digital assets and ensure the consistent treatment of all seized digital
assets; and updating internal guidelines to include time frame requirements for preparing the seizure memorandum and updating records in its
since efforts by the Trump administration to establish national Bitcoin (BTC) and crypto reserves
Though White House officials initially proposed stockpiling crypto primarily from that seized in criminal cases, some have suggested
alternatives through tariffs and revaluing gold certificates.Related: US Supreme Court will not review IRS case involving Coinbase user
dataEstimates on how much Bitcoin and other cryptocurrencies the US government currently holds vary based on information available from
As of March, White House officials said there were roughly 200,000 BTC in its stockpile, worth more than $21 billion at the time of
publication.The most significant seizures included more than 94,000 BTC connected to the 2016 hack of crypto exchange Bitfinex and more than
50,000 BTC from the Silk Road marketplace
Magazine: Bitcoin vs stablecoins showdown looms as GENIUS Act nears
