A federal judge in Texas has mandated that early Bitcoin investor Richard Ahlgren III surrender encryption keys that could unlock approximately $124 million in cryptocurrency. This order is part of a larger effort by U.S. authorities to seize digital assets linked to tax evasion. Judge Robert Pitman's directive includes a requirement for Ahlgren to reveal all storage devices used for his crypto holdings and prohibits him from transferring or concealing any digital assets without court permission, although he can use some funds for normal living expenses. Ahlgren was previously convicted on counts related to filing false tax returns and illegal structuring of cash deposits, having falsely reported capital gains from the sale of Bitcoin worth $3.7 million. His case highlights challenges and strategies in regulating cryptocurrency taxation and sets a precedent for future tax evasion cases involving digital assets.

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