Article by John Joy, Managing Attorney, FTI Law.
SEC Crypto Whistleblower Rewards
The SEC operates a whistleblower reward program for people reporting fraud or crime involving “securities.” The SEC believes that some contracts to buy cryptocurrencies are “securities.” If you know about a person or company fraudulently selling cryptocurrencies (through an ICO for example) you may be eligible for an SEC whistleblower award for reporting it. The average SEC whistleblower award is over $4 million dollars, but they are paid to the first person who reports the violation, so its important you act quickly. If you think you have information relating to fraudulent crypto currency sales speak confidentially to one of our whistleblower attorneys now who can advise you how to anonymously report to the SEC.
CFTC Crypto Whistleblower Rewards
The CFTC operates a whistleblower reward program for people reporting fraud or crime relating to “commodities.” The CFTC considers many cryptocurrencies, including Bitcoin, to be commodities. If you know someone who was fraudulently trading or selling cryptocurrencies or crypto derivatives (futures) you may be eligible for a CFTC whistleblower award. The average CFTC whistleblower award is less than $1 million dollars, but they are paid to the first person who reports the violation, so its important to act quickly. If you think you have information relating to fraudulent crypto currency sales speak confidentially to one of our whistleblower attorneys now who can advise you how to anonymously report to the CFTC.
IRS Crypto Whistleblower Rewards
The IRS operates a whistleblower reward program where people reporting tax evasion involving crypto currency can receive up to 30% of any fines recovered by the IRS. Many people evade tax using cryptocurrencies by not declaring their profits from trading cryptocurrency, or using cryptocurrency to hide assets. In either circumstances, this can be a violation of U.S. tax law and by reporting it you could be entitled to a multi-million dollar award from the IRS. As with the other whistleblower programs, IRS whistleblower awards are paid to the first person who reports the violation, so if you have information relating to tax evasion involving cryptocurrency speak confidentially to one of our whistleblower attorneys now who can advise you on how to report it.
