CryptoPunk NFT Seller Pleads Guilty to Filing False Tax Returns
A recent report stated that a man pleaded guilty to filing false tax returns regarding his sales of NFT tokens.
NFT tokens have garnered increased attention from regulators in recent months.
Over the weekend, the cryptocurrency market witnessed a brief bullish return, delighting investors. Bitcoin regained $86,000 after last week's crash. Although it has currently returned to the $84,000 level, it has sparked hope for a market recovery.
Meanwhile, Trump’s coin “MemeCoin,” “Official Trump,” is set to launch more tokens this week. On the other hand, in Pennsylvania, a cryptocurrency trader faces charges from a federal court. He pleaded guilty to omitting 97 transactions from CryptoPunk NFTs between 2021 and 2022.
According to the report, Wylon Wilcox did not file tax returns for his profits of $13 million from CryptoPunk sales. He stated that he sold 62 punk coins in 2021 and 35 coins in 2022. He achieved a total of 97 unique NFT coins generating the mentioned profits.
The Pennsylvania Department of Justice stated that he could face a prison sentence of up to 6 years for committing this felony.
