On January 8, it was reported that Frank Richard Ahlgren III, the first Bitcoin investor in the United States to be convicted for tax crimes related to cryptocurrency trading, has been sentenced to two years in prison and ordered to surrender the keys to access his cryptocurrency assets.
Court documents show that Ahlgren was accused of concealing at least 1,287 Bitcoins through mixing services, which are currently worth over $124 million. He previously pleaded guilty to underreporting capital gains tax on $3.7 million in Bitcoin trades and was ordered to pay $1 million in tax loss restitution to the U.S. government.



U.S. District Judge Robert Pitman in Austin, Texas, ordered Ahlgren to surrender the keys and devices that store these crypto assets and disclose all cryptocurrency accounts. He is prohibited from transferring, selling, or depleting any property without court approval, but may use it for normal living expenses. Ahlgren's attorney, Dennis Kainen, stated that his client will comply with the court's directives.

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