Epstein's Crypto Concerns: Emails Reveal Tax and Regulatory Worries

Newly revealed emails from Jeffrey Epstein's estate indicate the convicted sex offender was deeply concerned about cryptocurrency tax policies in the United States. He actively sought advice from Steve Bannon, a former advisor to President Donald Trump, on navigating these complex issues and influencing regulatory approaches.

Key Takeaways

Epstein sought Steve Bannon's assistance in understanding and shaping U.S. crypto tax and regulatory policy in 2018.
He viewed cryptocurrency as both a domestic tax concern and a global issue, urging the Treasury Department to act.
The emails suggest Epstein was involved in early debates surrounding crypto policy, including tax implications and stablecoin projects.

Epstein's Engagement with Crypto Policy

In early 2018, Epstein reached out to Steve Bannon, inquiring about the possibility of obtaining guidance from the U.S. Treasury Department on cryptocurrency matters. Bannon indicated that the National Security Council was discussing the issue, but Epstein pointed to the Treasury's office of terrorism finance as a potential source for tax-related advice.

Epstein proposed the creation of a voluntary disclosure form for realized crypto gains, suggesting it would help to "fuck all the bad guys." This proposal highlights his interest in using regulatory mechanisms to address illicit activities within the burgeoning crypto space.

Broader Concerns and International Scope

Beyond domestic tax issues, Epstein also expressed concerns about the global implications of cryptocurrency. He described "our crypto coin issues" as primarily U.S.-based, relating to tax, regulation, and disclosure. However, he noted that the international landscape presented a "whole different bag" with "very bad" consequences.

In a September 2018 text message, Epstein likened cryptocurrency to the internet, advocating for international agreements and coordinated understandings to prevent it from becoming a "Ponzi scheme outside of the law."

Interest in Stablecoins and Libra

Epstein's interest extended to stablecoin projects, notably Facebook's (now Meta) Libra. Less than two weeks before his arrest in June 2019, he expressed strong opinions about Libra, stating it was "not a currency" but "money," and warned that it "could take down [the] financial system" if it fell into the "wrong hands."

Prior to this, emails indicated that Epstein had met with Brock Pierce, a co-founder of Tether, at his Manhattan townhouse. These communications suggest Epstein was closely monitoring the development and potential impact of various cryptocurrency initiatives.

Sources

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