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Crypto Investors Are Likely Paying Less Than Half the Taxes They Owe

  • Decentralized finance would add to the gap, Barclays says
  • IRS is boosting attention to crypto audits and enforcement
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TerraUSD’s Collapse Shakes Crypto Stablecoin Complex
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Cryptocurrency investors are collectively not paying the IRS at least half of the taxes they owe on their virtual-currency trades, according to new analysis from Barclays Plc.

A research note by Joseph Abate, a managing director at Barclays, paints a picture of an exploding new industry that the Internal Revenue Service is struggling to hold to account.