According to a report from the criminal investigation department of the US Internal Revenue Service (IRS), tax evasion has become a significant focus of cryptocurrency investigations, with more than half of all investigations conducted in the last fiscal year related to tax issues. This news comes as the IRS actively seeks input from stakeholders on its upcoming cryptocurrency-focused framework. The report notes that three years ago, over 90% of active cryptocurrency investigations were focused on money laundering, but in the last fiscal year from October 1, 2022 to September 30, 2023, tax-related issues accounted for about half of digital asset investigations. Therefore, the IRS is increasing efforts to combat cryptocurrency tax fraud. The agency's criminal investigation department reported in its annual report that the number of investigations related to digital asset reporting has increased, with at least 2,676 cases initiated in the 2023 fiscal year, uncovering over $37 billion in transactions related to financial and tax crimes.