Waylon Wilcox, a 45-year-old from Pennsylvania, pleaded guilty in federal court for failing to report around $13 million earned from selling 97 NFTs between 2021 and 2022, evading approximately $3.3 million in taxes. The IRS investigation found the omission was deliberate, not accidental. Under current laws, Wilcox could face up to six years in prison, though his guilty plea may reduce the sentence. This case may set a precedent for how NFT transactions are treated under U.S. tax law.