The IRS Has Been Selling Bitcoin - Pay Up!

<p style="text-align: center;"><strong>The IRS Has Been Selling Bitcoin - Pay Up!</strong></p> <p>Bitcoin is all the rage. In fact, many people have considered investing in these cryptocurrencies or something. Of course, many have invested in it. I played around with them about a decade ago, and the IRS seized 1.2 billion worth of it.</p> <p>[Automated transcript]</p> <p>You might remember, we talked years ago about the IRS trying to tax things in the virtual world. So if you were in one of these real-life-type things and you owned property, as it were inside this virtual world, they wanted to tax it. So, of course, if you sold something with real hard money and. You sold it inside that real world with real hard cash, you would end up having to pay taxes.</p> <p>[00:00:43] Just if you sold a hammer to someone, that's the way it works. A lot of people have decided that, for some reason, cryptocurrency is entirely untracked. Now we know about cases. I've talked about them here where some of these coins, in this particular case, are talking about Bitcoin or have been used online.</p> <p>[00:01:11] And in fact, the government has found out who was using it and really stepped in, in a big way. Silk Road is the most significant example. This was an online black market for everything you can think of, from illegal drugs to firearms, to all kinds of illicit commodities for sale online.</p> <p>[00:01:36] Back in 2013, they used Bitcoin to buy and sell things in this free trade zone. I think they called themselves, and Silk Road was just thriving. But then, on comes the federal government and federal agents in the United States really cut their teeth in crypto search and seizure. With taking down the silk road, you might remember this was very unprecedented.</p> <p>[00:02:06] People had no idea. What they could do. How could the federal government monitor this? Can I buy and sell these Bitcoins? All of that sort of thing. And 20 years as the chief of money laundering and asset forfeiture. Yeah, us attorney's office for the