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During a recent interview conducted by The Wall Street Journal’s Risk & Compliance Journal with Thomas Fattorusso, the special agent in charge of IRS-CI’s New York field office, the IRS agent suggested that “Cryptocurrency is here to stay” and that the tax-collection agency wants to partner with the industry to fight financial crime.
According to Fattorusso, the agency cannot take a hostile approach to the technology and instead must embrace it since “it isn’t going anywhere anytime soon and it’s becoming more legitimate as the years roll on,” along with becoming more sophisticated. “It helps them in their legitimacy. This is a new industry for everybody. I think we’re still trying to feel our way around it. The companies are feeling their way around it,” the special agent said.