Senator Ron Wyden (D-OR) has publicly denounced Pantera Capital founder Dan Morehead for allegedly failing to cooperate with a prolonged federal investigation into tax evasion schemes in Puerto Rico. The senior Finance Committee member revealed that Morehead has repeatedly ignored congressional inquiries spanning several months regarding potential tax avoidance strategies involving cryptocurrency holdings.
In a strongly worded statement, Wyden emphasized the seriousness of the allegations, noting that the investigation focuses on whether wealthy cryptocurrency investors have been exploiting Puerto Rico’s tax incentives while potentially violating federal tax laws. The senator highlighted the importance of transparency in the digital asset space, particularly for high-profile industry figures whose actions could undermine regulatory compliance efforts.
This development marks a significant escalation in the ongoing scrutiny of cryptocurrency taxation practices. Congressional investigators have been examining how digital asset investors utilize Puerto Rico’s tax policies, which offer substantial benefits to residents under specific conditions. The senator’s public condemnation suggests growing frustration with what he characterizes as obstruction of legitimate congressional oversight.
The allegations against Morehead come amid increased regulatory attention on cryptocurrency taxation compliance across the United States and its territories. Industry observers note that this case could set important precedents for how cryptocurrency wealth is treated under existing tax frameworks and international agreements.
