Bitcoin Is Not Anonymous: 2 Years in Prison for Tax Evasion

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The first two-year prison sentence for cryptocurrency tax evasion has been handed down in the US. Texas resident Frank Richard evaded paying taxes on $3.7 million earned from selling bitcoins by underreporting his income in his 2017-2019 tax returns. Richard acquired his first bitcoins back in 2011. This case once again proves that the bitcoin blockchain is not anonymous. $BTC