EU to Crack Down on Crypto Tax Evasion with Greater Surveillance: Impending Legislation

News	2023-5-11 01:42

The European Commission is making progress toward an EU-wide agreement, called the Directive on Administrative Cooperation (DAC8), to curb tax evasion and better track crypto transactions within EU borders. Building... origin »

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Источник: cryptobriefing.com

evasion crypto → Результатов: 99

Crypto skeptic Brad Sherman: Federal financial regulators ‘sound like Sam Bankman-Fried’

The U.S. lawmaker suggested four financial regulatory heads had done little to address “crypto billionaire bros” using digital assets for the evasion of sanctions and taxes.

2022-11-17 20:46	sam bankman-fried
financial crypto billionaire bros address little using

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Get Your Crypto Taxes in Order, Warns IRS as It Announces Investigations Into ‘Hundreds’ of Evaders

The tax collection agency of the United States is doubling down on tackling cryptocurrency tax evasion. The IRS’s Criminal Investigation division said it is preparing “hundreds” of cryptocurrency tax evasion cases, according to chief Jim Lee.

2022-11-5 20:15
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US Alleges 5 Russian Nationals Used Crypto as Part of Sanctions Evasion, Smuggling Scheme

Federal prosecutors alleged that five Russian nationals laundered "millions of dollars" worth of unnamed cryptocurrency as part of a scheme to smuggle military technology and oil.

2022-10-20 21:17	policy
scheme part nationals russian cryptocurrency unnamed dollars

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OECD Issues Framework to Tackle International Tax Evasion Using Crypto-Assets

OECD has issued a global tax reporting framework for cryptocurrencies that will assist tax authorities in keeping track of cross-border transactions of crypto assets.

2022-10-11 15:30
tax oecd framework assist authorities assets track

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IRS Plans to Hunt Down Crypto Users Who Avoid Paying Taxes

The U.S. Internal Revenue Service has secured a court order to obtain transaction records of U.S. taxpayers suspected of crypto tax evasion. The post IRS Plans to Hunt Down Crypto Users Who Avoid Paying Taxes appeared first on BeInCrypto.

2022-9-27 23:34
crypto paying irs avoid taxes plans hunt

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Central Bank Of Russia Approves Bitcoin, Ethereum, Others, For Cross-Border Payments

Russia has been leaning towards cryptocurrencies such as Bitcoin and Ethereum in recent times. Sanctions against the country since it began its evasion of Ukraine had piled up, and the government had begun to turn to crypto to circumvent these sanctions.

2022-9-23 20:00	Russia
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Tax Evasion: South Korean Government Seize Over $184 Million in Crypto

South Korea’s National Tax Service has combined forces with the Ministry of Strategy and Finance, and other agencies as well as local government authorities, to seize over $184 million worth of Bitcoin (BTC) and altcoins from alleged tax evaders in…

2022-9-22 14:30	South Korea
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Lithuania to Ban Anonymous Wallets Following EU Regulation

Lithuanias Finance Ministry has banned anonymous wallets and imposed strict regulations on crypto exchanges in an attempt to combat money-laundering, terrorist financing, and sanctions evasion. The ministry stated it had...

2022-6-10 23:29	Wallet
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U.S. Government Launches First Crypto Sanctions Evasion Case

The U.S. Department of Justice has launched its first-ever case involving the use of cryptocurrency to evade sanctions. Defendant Operated Payments Platform The U.S. government is set to bring charges...

2022-5-17 02:23	News
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U.S. Department of Justice Lays First Criminal Crypto Sanctions Charge

The U.S. Justice Department has opened its first criminal case of sanctions evasion using cryptocurrencies, according to a federal judge. The post U.S. Department of Justice Lays First Criminal Crypto Sanctions Charge appeared first on BeInCrypto.

2022-5-16 21:30
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Council of Europe Calls for Crypto Laundering Clampdown

The chair of the council's Moneyval committee warned of fraud, tax evasion and market manipulation taking place using virtual assets.

2022-5-4 14:14	policy
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Law Decoded: Crypto risks, imaginary and real, and creative ways of addressing them, April 4–11

The Treasury admits there’s not much crypto-aided sanctions evasion going on, stablecoins attract regulatory attention, and a fourth futures-based BTC ETF secures approval.

2022-4-12 21:18	ETF
going stablecoins evasion much crypto-aided sanctions attract

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Yellen alleges crypto has not been used for significant Russian sanctions evasion so far

The U.S. Treasury secretary emphasized the department’s crypto monitoring efforts at a House Financial Services Committee hearing Wednesday.

2022-4-7 00:15	sanctions
crypto monitoring efforts department secretary emphasized house

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India: Probe into crypto exchanges reveals over $10.7 million in tax irregularities

11 crypto exchanges were probed under investigation in India for alleged evasion of goods and services tax (GST). The quantum of evasion is valued close to INR 81 crore (~$10. 7 million) as per The TimThe post India: Probe into crypto exchanges reveals over $10.

2022-3-29 14:30	News
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India Identifies 11 Crypto Exchanges Accused of Tax Evasion

India’s tax authority first began seizing assets to address alleged tax evasion late last year.

2022-3-29 19:21	policy
tax evasion india assets address year late

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White House, G7 Say New Guidance Is Coming on Crypto Sanctions Evasion

White House and Treasury officials have said there is little concern that crypto will be used to evade sanctions against Russia but are announcing guidance to ensure this.

2022-3-12 20:15	policy
sanctions white guidance crypto house used evade

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Coinbase Purposes Use Of Cryptocurrencies To Prevent Sanction Evasion

Highlighting the possibility in traditional finance structures to evade compliance with economic sanctions, well-known crypto exchange Coinbase purposed to use cryptocurrencies to prevent laundering and sanction evasion that becomes possible using fiat currency.

2022-3-8 12:24
sanction coinbase evasion prevent cryptocurrencies use purposed

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Coinbase Touts Blacklist of 25K Russia-Linked Addresses Allegedly Tied to Illicit Activity

Combating accusations that crypto is an ideal sanctions evasion tool, Coinbase said it has long taken “proactive” steps to root out criminally-tied Russians.

2022-3-8 22:56	Business
coinbase said evasion sanctions tool long out

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Lawmakers Raise Alarm on Crypto for Sanctions Evasion as Experts Cast Doubt

U. S. Senators Elizabeth Warren (D-Mass. ), Sherrod Brown (D-Ohio), Mark Warner (D-Va. ) and Jack Reed (D-R. I. ) and New York Governor Kathy Hochul addressed this concern in separate public statements Wednesday.

2022-3-3 22:01	policy
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ECB calls for faster adoption of crypto regulation in response to Russia's possible sanctions evasion

The Chairman of the European Central Bank, Christine Lagarde, sees cryptocurrencies as a tool for possible circumvention of sanctions, which Russia will be able to use if the EU does not speed up work on its cryptocurrency legislation.

2022-3-1 00:05	News
sanctions russia possible use able circumvention does

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UK Law Enforcement Agency Seizes almost $2M worth of NFTs

NFTs have come a long way since they first emerged in 2014, and a negative first; a UK law enforcement agency becomes the first UK law enforcement outfit to confiscate NFTs. NFTs and Tax Evasion One of the widely used arguments by crypto and NFT naysayers is that digital assets can be used to launder […] The post UK Law Enforcement Agency Seizes almost $2M worth of NFTs appeared first on NFT News Today.

2022-2-18 10:50
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IRS Crypto Prosecutions Set to ‘Skyrocket’, Says US Tax Law Firm

The US Internal Revenue Service (IRS) is expected to ramp up its cryptocurrency-related enforcement actions, a tax law office warns. US Revenue Agency Looking to Crack Down on Crypto Tax Evasion The IRS has not been explicit on how would it treat taxes related to cryptocurrency transactions.

2020-2-22 20:00	IRS
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US Courts Charge $147M Gemcoin Crypto Scammer On Tax Evasion And Wire Fraud

Gemcoin founder Steve Chen appeared in court and pleaded guilty to charges of conspiracy to commit wire fraud charges and tax evasion. He and other perpetrators duped some 70,000 unsuspecting individuals out of a cool $147 million to invest in USFIA.

2020-2-20 20:34	Legal & Regulation
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Tax Agencies Step Up Efforts to Hone in on Crypto Tax Evasion

Industry commentators speak out over the shrinking anonymity in crypto: “There was no chance that such a growing industry would escape unnoticed”

2020-1-26 00:27	Dash
industry tax crypto escape unnoticed anonymity such

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Britain’s Tax Agency Offering Contract for Tech to Combat Crypto Tax Evasion

As cyber crimes evolve, Britain’s tax agency pursues new tech to combat growing tax evasion using crypto

2020-1-21 04:00	Taxes
tax combat evasion tech britain crypto agency

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North Korean Crypto Conference a No-Go, Warns the UN

Sanctions experts from the United Nations have warned blockchain enthusiasts against attending an upcoming cryptocurrency conference in North Korea. Attending the Pyongyang Event Could Breach Sanctions According to Reuters, a confidential report will be submitted to the UN Security Council warning that the event will include discussions that cover sanctions evasion and money laundering.

2020-1-16 16:25	North Korea
sanctions attending event north conference according confidential

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War on cash rages in the Mediterranean

Crypto adoption a likely beneficiary as Greece and Italy crackdown on black markets and tax evasion and take up a frontline position in the ‘war on cash’.

2019-12-19 14:01	BNC insights
war cash markets black tax position frontline

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Danish Authorities to Clamp Down on Bitcoin Tax Evaders

Denmark is set to enforce robust bitcoin tax compliance at its tax agency has received information about 20,000 crypto owners in the country. The Scandinavian nation is the latest country to move towards combating crypto tax evasion.

2019-12-11 17:32	tax
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Australia Spares Crypto in AUD $10,000 Cash Limit Draft Squeeze

A draft legislation in Australia is seeking to prohibit the use of cash in making transactions for amounts exceeding $AUD10,000 ($6,900) has spared cryptocurrencies. The goal of imposing the cash payment limit is to prevent tax evasion, money laundering and other illicit activities.

2019-7-29 15:59	Australia
cash limit australia draft aud crypto spares

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Brazilian Govt. Official Believes Economic Reforms May Result in Crypto Based Tax Evasion

Economic conditions within Brazil are quite shaky — with the nation’s unemployment rate currently laying around the 12. 5% mark. Owing to its various economic issues, many experts believe that crypto enabled technologies will be able to draw in many investors from across Brazil.

2019-7-26 19:11
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Crypto Gets Swept Up in International Tax Evasion Crackdown

By CCN: An international tax evasion authority comprising five major global economic powers is taking cryptocurrency seriously. A year ago, five world powers created the Joint Chiefs of Global Tax Enforcement, or J5, with a particular interest in cryptocurrencies.

2019-6-6 21:30	Australia
tax evasion international global powers crypto five

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Belarus General Prosecutor Warns About Cryptocurrency’s Use in Tax Evasion

Belarus remains worried about crypto’s role in cybercrime and tax evasion, according to comments from the country’s general prosecutor

2019-6-5 14:44	Cryptocurrencies
tax evasion belarus general prosecutor according comments

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Bitcoin-Bashing Democrat Calls for Blanket Ban on Cryptocurrencies

By CCN: Bitcoin-bashing Democrat Congressman Brad Sherman is urging his colleagues to pass a law that would ban cryptocurrencies in the United States. “I look for colleagues to join with me in introducing a bill to outlaw cryptocurrency purchases by Americans, so that we nip this in the bud.

2019-5-10 06:58
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Indian Supreme Court Gives Government Deadline to Reach Decision on Crypto Regulations

The Supreme Court of India made a decision on February 25, 2019, to present the government with an ultimatum: Develop crypto regulations within the next four weeks or the court will make its own judgement.

2019-2-26 22:02	Regulation
government crypto india rbi court legal supreme

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Understanding the IRS and Cryptocurrency: Penalties, Tax Evasion, and Compliance

Delinquent federal and state tax filings or unreported 2017 or prior tax years’ transactions may force taxpayers dealing in crypto to liquidate significant positions in cryptocurrencies at lower values to pay outstanding tax liabilities to the IRS, including interest and penalties.

2019-1-25 14:30	Taxes
tax penalties irs understanding evasion cryptocurrency 2017

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Israel Regulatory Bodies for Taxes Announce Mission to Find Profitable Crypto Sellers for Tax Evasion

The tax-collection organisation that operates within Israel has announced that it will be taking on a newly firm stance against cryptocurrency-based traders and Investors operating within the country.

2018-12-9 22:19	News
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Japan’s National Tax Agency Works To Prevent Crypto Tax Evasion

The tax regulator seeks to tighten its grip during the country’s 2019 tax reformation restructuring.

2018-12-5 22:05	law and legislation
tax grip country 2019 restructuring reformation tighten

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Spanish Crypto Holders Under Scrutiny as Authorities Seek to Prevent Tax Fraud

The Spanish Ministry of Finance will inspect the holdings and operations of 15,000 taxpayers as part of its efforts to prevent tax evasion and fraud.

2018-11-22 22:11	News
fraud tax spanish prevent operations evasion efforts

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Spanish Regulators Mandate Cryptocurrency Holders to Formally Identify Themselves

The Spanish government has reportedly approved a draft law that will make it mandatory for digital asset holders with over €50,000 ($57,000) in their cryptocurrency wallets to identify themselves and announce their exact holdings.

2018-10-27 20:00	Taxes
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Blockchain Fraud: New Policies and Technologies to Stop Crypto Criminals

Tax evasion, money laundering, and terrorist funding schemes are all major categories of blockchain fraud. So how can legislation and technologies soon be used to stop crypto criminals? The post Blockchain Fraud: New Policies and Technologies to Stop Crypto Criminals appeared first on CoinCentral.

2018-9-6 17:08	Taxes
crypto criminals blockchain stop technologies fraud new

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Bitcoin Magazine’s Week in Review: ETFs and Expansions

ETF’s are back in the news this week with the Winklevoss twins of Gemini getting rejected again, while investment firm Direxion was delayed till September on a final decision.

2018-7-30 18:41
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Yes, Stablecoins Can Secure Official Audits from Major Firms

“We have nothing to hide,” says Tory Reiss, VP of corporate development at TrustToken. Like the market’s most popular stablecoin, Tether, TrustToken's TrueUSD is fiat-collateralized.

2018-7-26 18:55	Digital assets
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Binance Plans to Expand Into South Korea

Cryptocurrency exchange Binance is making plans to expand operations into South Korea, reports Business Korea. Per the report, Binance CEO Changpeng Zhao hinted at his company's expansion plans while speaking at the Blockchain Partners Summit in Seoul last weekend.

2018-7-25 00:26	Bitcoin
korea binance south company cryptocurrency kong hong

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5 Countries Team up to Combat Tax Fraud From Cryptocurrencies

A new taskforce involving five countries’ taxation regulators was announced on Monday, July 5. The announcement by the Inland Revenue Service (USA) will aim to increase cooperation between the United States of America, the Netherlands, Australia, Canada, and the United Kingdom in order to combat crimes committed using cryptocurrencies, specifically tax evasion.

2018-7-9 14:59	Cryptocurrency
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IRS Launches International Crypto Tax Enforcement Coalition

The US Internal Revenue Service has launched an international joint task force focusing on cryptocurrencies in order to investigate crypto-related tax evasion and money laundering. Announced on Monday, the Joint Chiefs of Global Tax Enforcement (J5) will see tax enforcement agencies form the US, UK, Australia, Canada, and the Netherlands in join forces in order […] The post IRS Launches International Crypto Tax Enforcement Coalition appeared first on CryptoSlate.

2018-7-5 19:00	United States
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Trillions in institutional money to flow into bitcoin, says Bitwise's Matt Hougan

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2023-5-11 01:42

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