“Crypto Is Here to Stay” IRS Top Gun Comments on Cryptocurrencies

According to the latest reports, an Internal Revenue Service

Official said that cryptocurrencies are here to stay and getting more legitimized with time. 

The IRS top gun also insisted on collaborating with crypto companies as they cannot operate in this space without it. 

Even though government organizations have been reluctant to acknowledge the magnitude of blockchain tech, the U.S. IRS acting special agent-in-charge of the SCI has made the stance clear. Thomas Fattorusso, who is operating from the IRS office in New York, said, 

“We can’t be hostile to technology. We have to embrace it. Cryptocurrency is here to stay. As far as I’m concerned, it isn’t going anywhere, anytime soon, and it’s becoming more legitimate. As the years roll on, it becomes more sophisticated.”

This statement has come when crypto markets are facing a severe bearish sentiment and looking out for triggers to break the resistance. As per Fattorusso, the IRS is working towards making it comfortable for crypto companies to collaborate with the federal government and build a bridge between the two. He also hinted that the IRS had been working with cryptocurrencies in the past and, rather than being contentious, these partnerships were mutually beneficial. 

Crypto Companies: Potential Partner of Federal Government

Fattorusso believes that cryptocurrencies and pertinent companies can gain deserving legitimacy by working in synergy with the federal government. “Blockchain is the next-gen technology and we cannot neglect tech but embrace it”, said Thomas Fattorusso. 

Fattorusso also stated that he is optimistic about the future of crypto companies as crime-fighting partners of the government. He said, 

“They understand what we need from a law-enforcement aspect to investigate cybercrime. And they can help us in that arena. And now we have an open flow or open dialogue we didn’t have before because we didn’t have a contact there.”

Thomas had been a long proponent of a symbiotic collaboration of traditional and blockchain finance stakeholders. He was more than reasonable in saying that crypto and blockchain are imminent technologies and we have to use them to our leverage. These remarks from an IRS top gun can bring that flicker of hope for which the industry had been looking out for a long time.