r90280790

@r90280790

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Acting Deputy Assistant Attorney General Stuart Goldberg of the Justice Department’s Tax Division noted that Ahlgren’s decision to underreport crypto capital gains and attempt to conceal the transfer of funds “earned him a two-year sentence.”

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Additionally, Ahlgren did not report more than $650,000 worth of Bitcoin sales in 2018 and 2019. According to the DOJ, he attempted to conceal the movement of his funds through multiple wallet transfers, crypto mixers and in-person cash transactions. The DOJ added:

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Authorities found discrepancies in Ahlgren’s 2017 federal income tax return, the report noted:

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Launched in 2015, BitOasis is a pioneer in the region’s cryptocurrency ecosystem and is focused on servicing crypto investors in the Middle East and North Africa (MENA) region.

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In 2023, VARA briefly suspended BitOasis’ license for not meeting mandated conditions within the timeframes set out by the authority.

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BitOasis’ past regulatory approvals in Dubai and Bahrain have allowed the company to provide virtual assets broker-dealer services to its users, the representative noted.

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“While the license does not allow BitOasis to conduct any new activities, it enables BitOasis to enhance its existing products and features, and it positions the company well when it comes to securing additional licenses and approvals from VARA in the coming year,” a spokesperson for BitOasis told Cointelegraph.

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The full license enables BitOasis to enhance its current services to retail, institutional and qualified investors. It also lays a foundation for further work to secure additional approvals from VARA and other regulators to continue expanding its product portfolio.

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The crypto trading firm was among the first platforms to secure a provisional operating permit from Dubai’s VARA, shortly after the regulator was formed and new crypto laws were established in 2022.

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BitOasis’ latest regulatory milestone in Dubai builds on a foundation of cooperation with market regulators in the United Arab Emirates.

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The firm plans to transition to operating under the license with immediate effect, following its cooperation and compliance with Dubai authorities.

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The acquisition of the full license marked the final step in BitOasis’ VARA licensing process, allowing it to offer a full range of crypto trading services, including buying, selling and trading.

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BitOasis received a full virtual asset service provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), the firm announced on Dec. 9.

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