Share this article
FinCEN Developed Bitcoin Training for IRS Tax Examiners
FinCEN has been working with the IRS to train its examiners on relevant aspects of bitcoin technology.
By Stan Higgins
Updated Sep 11, 2021, 11:59 a.m. Published Nov 16, 2015, 10:50 p.m.
The US Financial Crimes Enforcement Network (FinCEN) has reportedly been working with the Internal Revenue Service (IRS) to develop bitcoin training programs for tax examiners.
During a speech given today at the ABA/ABA Money Laundering Enforcement Conference in Washington, DC, FinCEN director Jennifer Shasky Calvery said that the agency, one of several in the US with jurisdiction over elements of the bitcoin ecosystem, recently collaborated with the IRS to educate its examiners on relevant aspects of the technology.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
She remarked:
"IRS has an extensive training program for its examiners, and FinCEN often participates in, or otherwise contributes to, these training programs. In the virtual currency space, FinCEN worked recently with IRS to design and implement a training program for IRS examiners."
Calvery later highlighted FinCEN's ongoing examinations of US digital currency companies, which she said will "determine whether virtual currency exchangers and administrators are meeting their compliance obligations under the applicable rules".
She also pointed to FinCEN's 2015 enforcement action against Ripple in highlighting how the agency will move against industry firms it believes are in violation of federal law.
"Where we identify problems ... we will use our supervisory and enforcement authorities to appropriately penalize non-compliance and drive compliance improvements," she said.
Conference attention
Calvery's speech wasn't the only time during the three-day conference that the subject of bitcoin has come up, however.
According to a schedule published on the conference's website, a panel convened both yesterday and today focused on how fraud and anti-money laundering risks are evolving "due to the speed of mobile payments, increase in social technologies, and growth of cryptocurrencies".
Hosted by JPMorgan & Chase executive director for Global KYC Aaron Borst, speakers included Microsoft senior director of compliance André Burrell, BuckleySandler LLP counsel Amy Kim and William Voorhees, head of Silicon Valley Bank Financial Group's financial intelligence and high-risk business management efforts.
Image via Wikimedia
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Meer voor jou
XRP Faces Downside Risk as Social Sentiment Turns Wildly Negative
The turn in crowd mood comes after a two-month slide of roughly 31%, leaving the token vulnerable to further downside if risk appetite weakens across majors.
Wat u moet weten:
- XRP's price approached the $2 mark as social sentiment around the token turned sharply negative, according to Santiment data.
- The token has experienced a 31% decline over two months, making it vulnerable to further losses if market risk appetite weakens.
- Santiment's sentiment model indicates XRP is in a 'fear zone,' where negative commentary significantly outweighs positive talk, potentially influencing market positioning.
Top Stories
