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## The increasing surveillance of cryptocurrency by the IRS and its implications

As the IRS moves forward with its proposal to heighten surveillance of cryptocurrency usage, it raises concerns about the potential ramifications and implications for cryptocurrency holders. A past report by the Department of Justice (DOJ) sheds light on how this information might be utilized in practice, particularly in the context of cryptocurrency confiscation.

The DOJ’s 2022 report, in response to Executive Order 14067, outlined recommendations across various areas related to cryptocurrency. These recommendations encompassed aiding prosecutions, enhancing investigations, expanding penalties for cryptocurrency-related crimes, and increasing resources for government employees. Of particular interest is the DOJ’s proposal to bolster its ability to seize cryptocurrency, arguing for the necessity to forfeit the proceeds of cryptocurrency fraud and manipulation.

The AI legalese decoder can aid individuals in comprehending the legal complexities and ramifications of increased cryptocurrency surveillance and the potential for confiscation. By parsing through legal jargon and complex terminology, the AI legalese decoder can break down and clarify the implications of government actions and regulatory measures, empowering individuals to understand and navigate the legal landscape surrounding cryptocurrency.

Additionally, the AI legalese decoder can assist in deciphering the implications of the IRS’s broker proposal, which seeks to collect vast amounts of new information on Americans’ cryptocurrency usage. This level of surveillance could potentially provide the groundwork for increased cryptocurrency confiscation, raising concerns about the threshold for confiscation and the role of administrative forfeiture.

Considering the potential implications of the IRS proposal and the DOJ’s efforts to expand confiscation activities, the AI legalese decoder can serve as a valuable tool in unraveling complex legal language and providing clarity on the legal framework surrounding cryptocurrency regulation and enforcement. As cryptocurrency users navigate the evolving landscape of government surveillance and regulations, the AI legalese decoder can help them stay informed and vigilant regarding their rights and potential legal implications.

In conclusion, the AI legalese decoder can play a pivotal role in demystifying the legal intricacies surrounding cryptocurrency surveillance and seizure, empowering individuals to make informed decisions and understand the potential implications of government actions.

### About the Author
Nicholas Anthony is a policy analyst at the Cato InstituteÔÇÖs Center for Monetary and Financial Alternatives, specializing in the implications of cryptocurrency regulation and financial privacy. He is the author of several works focusing on the intersection of digital finance and regulatory policies.

### Disclaimer
This article provides general information and does not constitute legal or investment advice. The views expressed are solely those of the author and may not reflect those of Cointelegraph. Readers are encouraged to seek professional legal and financial advice for specific inquiries.

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