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Cryptocurrency Fraud Attorney

June 29, 2020

Cryptocurrency Fraud Attorney

Technology developments have changed the way individuals transfer and invest their money. In this era’s digitized world, these emerging technologies are embraced before being understood fully. Recently Bitcoin and other cryptocurrencies have been used fraudulently raising attention from agencies which led to severe penalties imposed on those committing such cybercrimes associated with them.

Embracing virtual or digital currencies such as Bitcoin has developed a new norm in the people who are digitally inclined. The cryptos consist of all the currencies that are cloud-based. Using cryptos is still associated with money laundering, making illegal sales or purchases and committing frauds online. It is, therefore, important when facing charges of fraudulent use of cryptos that you get an attorney who is experienced in the field of cryptocurrency to help you by protecting your constitutional rights.

Cryptocurrency and Bitcoin Fraud Attorney.

Blockchain and Bitcoin technology was founded in the year 2009 as the pioneer decentralized digital currency. The technology allows people to transfer funds and transact with no third-party administrator nor a central bank. This technology is designed to remove the authority of a central third party to reduce the costs of transacting. In essence, users of Bitcoin carry out their transaction with anonymity by use of digital/virtual wallets that no one else is able to see. Since the creation of Bitcoin (BTC), other competitors have emerged. Among others, some of the most renowned cryptos include:

  • Ripple (XRP)
  • Litecoin (LTC)
  • Ethereum (ETH)

However, emergent of such cryptocurrency platforms have led to the emergent of schemes for fraudulent cryptocurrency investment, for instance, initial coin offerings (ICOs). Any fraud or theft involving these cryptocurrency networks may lead you into severe legal consequences as well as criminal penalties.

Defense Against Fraud Charges on Cryptocurrencies.

Frauds involving cryptocurrency is new, making it difficult to track and prove. Our mission is to keep informed of these emerging activities and crimes, getting to learn all the aspects of cybercrimes that apply to the virtual businesses in the digital helping you get justice, we employ defense strategies that are cutting-edge to protect your future by advocating for your constitutional rights.

The government aggressively imposes punishments to the people that are found to be guilty of fraud. Such frauds involving cryptos are punishable by a maximum of 20 years imprisonment. Very few attorneys have the necessary experience in investigations involving cryptocurrency prosecutions or investigations. However, at our firm, our attorney for crypto criminal defense has, for years, been at the forefront of these prosecutions making him one of the state’s leading crypto attorneys. Together with you, we can gather information and documents, assess your situation and develop a strong defense for you.

The IRS is in big a battle with Coinbase, and other cryptocurrency platforms. The IRS wants people who trade cryptocurrency to pay taxes. It’s likely that with it’s history of pursuing offshore accounts, it’s likely you’ll see aggressive efforts by the IRS in this area. The tax attorneys at the Spodek Law Group have helped many taxpayers with issues surrounding their cryptocurrency assets. We can help when it comes to tax reporting, tax audits, and litigation – if necessary.

Cryptocurrency Tax Issues

Below are examples of cryptocurrency tax issues you may find yourself in

-Creating tax efficient businesses which use crypto

-Filing new/amended tax returns which properly report capital gains from sale/transfer of crypto

-Legal opinions on ICO’s

-Tax strategies for day traders

-Tax audits and Tax litigation

-Regulatory compliance

IRS Disclosure Program

If you haven’t reported your transactions, you should consider amending your prior tax returns, and participating in the voluntary disclosure program. If the IRS deems you failed to report your holdings, then there is no time limit for the agency to audit your fraudulent tax returns.

The IRS and tax authorities nationwide are taking a VERY proactive stance on investigating cybercrime involving cryptocurrency, and are pursuing cases involving the use of crypto in money laundering, ICO scams, and more.



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