Waylon Wilcox, a resident of Pennsylvania, pleaded guilty to evading taxes of nearly $3.3 million by failing to report over $13 million in profits from selling 97 CryptoPunk NFTs in 2021 and 2022. This marks the first major tax evasion case in the U.S. related to NFT transactions. Wilcox faces up to 6 years in prison. Meanwhile, CryptoPunks remains the largest NFT collection in the market despite a decrease in trading volume. Yuga Labs, the owner of CryptoPunks, has committed to not intervening further in the project.
Source: https://www.justice.gov/usao-mdpa/pr/york-county-man-pleads-guilty-filing-false-income-tax-returns-omitted-more-13-million