The IRS seized $ 1.2 billion of cryptocurrencies in 2021, an eight-fold increase from the amount of $ 137 million in 2020, CVBJ.biz reported.
Jarod Koopman, head of the IRS cybercrime division, said the division is tracking crypto for crimes such as tax evasion, false tax returns, and money laundering, according to the report.
In other news, Deutsche Telekom, Europe’s largest telecommunications company, has supported Polkadot, a framework of public blockchains, CoinDesk reported.
By throwing their support behind Polkadot, Deutsche Telekom will provide node-based infrastructure and, according to the report, have purchased a “significant” amount of DOT tokens, Polkadot’s native cryptocurrency.
This also led to Deutsche Telekom integrating a crypto business function into its accounting system, the report said.
Meanwhile, Terra, a decentralized payments network, is the second largest blockchain for decentralized finance (DeFi) in terms of total blocked value, Coinbase reported.
Terra stands behind Ethereum and crossed the Binance Smart Chain (BSC) this week, the report said.
Terra has 13 projects valued at over $ 18.2 billion, which averages more than $ 1.4 billion per protocol, the report said.
In other news, after several days of decline, Bitcoin was up 5% on Tuesday (December 21), Cointelegraph reported.
The boost came from a turnaround in the Turkish lira, which rose up to 40% against the US dollar overnight, according to the report.
It did so when Recep Tayyip Erdogan, President of Turkey, announced new consumer protections to attract lira investors, the report said.
Finally, Bitcoin Solutions has teamed up with prepaid service provider Epipoli to offer the BitCard at 50,000 retail locations and digitally across Europe, according to a press release.
The BitCard is a Bitcoin gift card. BitCard’s platform offers a secure and easy-to-use depot gateway. With Epipolis’ partnership, the card will be available in grocery stores, kiosks and more, the press release said.
“Epipoli is passionate about technologies that give our customers and partners the flexibility they need to be successful,” said Gaetano Giannetto, CEO of Epipoli, in the press release. “Our partnership with BitCard enables us to offer a uniquely valuable product that meets the evolving needs of our diverse customer base.”
NEW PYMNTS DATA: AUTHENTICATION OF IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021
About:More than half of US consumers believe that biometric authentication methods are faster, more convenient, and more trustworthy than passwords or PINs – so why are they using less than 10%? PYMNTS, in collaboration with Mitek, surveyed more than 2,200 consumers to better define this perception and usage gap and to find out how companies can increase usage.