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The IRS said cryptocurrencies worth billions of dollars could be seized again.
The IRS annual report shows that in the fiscal year of 2021, it recovered $3.5 billion worth of digital currency.
The IRS Criminal Investigation Chief Jim lee said he expects the trend of seizures to continue in fiscal year 2022.
In its annual report, the IRS said that it has prioritized training on criminal schemes related to cryptocurrencies and that it is seeing "exponential growth."
The criminal investigation unit is going to open an Advanced Collaboration & Data Center in Northern Virginia in 2022, according to the report.
The Silk Road case, in which law enforcement shut down the online marketplace for drugs, resulted in the seizure of $1 billion of digital currency.
Silk Road creator Ross Ulbricht was found guilty of distributing narcotics and money in 2015. Until they discovered previously unnoticed transactions in the scheme, investigators had not been able to track down all the money.
The infrastructure package signed into law on Monday includes new requirements for the sector, as well as new requirements for the trading platforms, according to the report. Some of the law's reporting rules have been loosened by lawmakers.
Business Insider has an original article.
