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You may have to report transactions involving digital assets such as cryptocurrency and NFTs on your tax return.

January 5, 2023 — A criminal complaint was unsealed today in federal court in Brooklyn charging Aurelien Michel, a French national residing in the United Arab Emirates (UAE), with defrauding purchasers of “Mutant Ape Planet” NFTs, a type of digital asset, of more than $2.9 million in cryptocurrency. The defendant was arrested last night at John F. Kennedy International Airport. His initial appearance is scheduled for this afternoon before United States Magistrate Judge James R. Cho.

November 14, 2023 — Aurelien Michel, a French national who had been residing in the United Arab Emirates (UAE), pled guilty at the federal courthouse in Brooklyn, New York to conspiring to commit wire fraud in connection with defrauding purchasers of "Mutant Ape Planet" NFTs, a type of digital asset. Today's proceeding took place before United States Magistrate Judge Vera M. Scanlon. When sentenced, Michel faces up to five years in prison. Michel has also agreed to pay $1.4 million in forfeiture. Michel was charged in January 2023.

IR-2023-50, March 21, 2023 — The Treasury Department and the Internal Revenue Service today announced that they are soliciting feedback for upcoming guidance regarding the tax treatment of a nonfungible token (NFT) as a collectible under the tax law.

IR-2024-178, June 28, 2024 — The U.S. Department of the Treasury and the Internal Revenue Service today issued final regulations requiring custodial brokers to report sales and exchanges of digital assets, including cryptocurrency.

April 4, 2024 — Any income earned from digital asset transactions must be reported on your federal tax return.

FS-2024-23, June 2024 — Treasury and IRS issued final regulations on reporting by brokers on dispositions of digital assets for customers in certain sale or exchange transactions.

IR-2024-52, Feb. 27, 2024 — The Internal Revenue Service today announced the addition of two private-sector experts to help the agency’s efforts in the cryptocurrency and other digital assets arena.

June 30, 2022 — The Department of Justice, together with federal law enforcement partners, today announced criminal charges against six defendants in four separate cases for their alleged involvement in cryptocurrency-related fraud, including the largest known Non-Fungible Token (NFT) scheme charged to date, a fraudulent investment fund that purportedly traded on cryptocurrency exchanges, a global Ponzi scheme involving the sale of unregistered crypto securities, and a fraudulent initial coin offering.

April 11, 2025 ― The United States Attorney’s Office for the Middle District of Pennsylvania announced that Waylon Wilcox of Dillsburg, Pennsylvania, appeared in federal court April 9, 2025, before Senior United States District Judge Malachy E. Mannion, and pled guilty to a two-count criminal information charging him with filing false individual income tax returns.