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Colombia explora la creación de una CBDC para combatir la evasión fiscal
17.8.2022
Como parte de un programa de reforma impositiva, el gobierno del país sudamericano también planea imponer límites a las transacciones en efectivo
Do Kwon Reportedly Lawyers Up, Colombia May Fight Tax Evasion with Digital Currency, Unstoppable Domains Lunches App + More News
17.8.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________...
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Colombia Explores Creating a CBDC to Combat Tax Evasion
17.8.2022
As part of a tax reform program, the government of the South American country also plans to impose limits on cash transactions
Colombia to prevent tax evasion with national digital currency: Report
17.8.2022
A national digital currency would help curb tax evasion in Colombia, which is estimated at up to 8% of GDP, the head of Colombia’s tax and customs agency said
Colombia Plans to Launch Digital Currency to Reduce Tax Evasion
17.8.2022
The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made by citizens. The proposed measure would also be accompanied by restrictions on cash payments...
Belarus Issues International Arrest Warrant for Owner of Country’s ‘Largest Crypto Exchanger’
11.8.2022
Law enforcement officials in Minsk are seeking international assistance to locate and detain the man who ran what is said to be the biggest online exchanger for cryptocurrencies in Belarus. The crypto trader has been accused of tax evasion and an investigation against three of his accomplices...
Tax Agency Vows to Go Hard After Koreans Using Crypto to Evade Levies
3.8.2022
South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been...
Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700
30.7.2022
New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will...
South African Crypto Investors and Service Providers Told of Legal and Tax Implications of Central Bank’s Plan
17.7.2022
South African tax consultancy firm Tax Consulting SA, has said the recent announcement by the central bank — that will start to regulate cryptocurrency in 12 to 18 months — has legal and tax implications for both crypto investors and organizations providing intermediary services....
Tax Agency Starts Checking Crypto Traders in Romania
3.7.2022
Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million...
South Korean watchdog reportedly fines Terraform Labs $78M for tax evasion
19.5.2022
According to South Korean corporate tax laws, foreign-registered companies are treated as domestic if the decision-making process and operations are carried out from the country
DOJ Files First Criminal Complaint Against US Citizen Allegedly Using Cryptocurrency to Evade Sanctions
18.5.2022
The Department of Justice (DOJ) has filed its first criminal complaint against an American who allegedly used cryptocurrency to circumvent U.S. sanctions. “The payments platform advertised its services as designed to evade U.S. sanctions, including through purportedly untraceable virtual...
Moody’s: Cryptocurrencies Unlikely to Help Russia Evade Sanctions
7.5.2022
Russia’s ability to employ cryptocurrencies to circumvent international sanctions is restricted by the limited size of the crypto market, according to Moody’s. Despite increased use in small transactions, low liquidity is another factor preventing Russians from exploiting the utility...
Argentinian Tax Agency Supports Creation of Global Crypto Report System to Avoid Evasion
27.4.2022
The AFIP, the Argentinian tax agency, is supporting the creation of a centralized system that serves as a registry for cryptocurrency holders. According to statements from its head, this would make it easier for tax agencies all over the world to curb evasion. The organization has already made...
US Charges Ethereum Dev’s Conspirators Allegedly Helping North Korea Evade Sanctions Using Crypto
26.4.2022
Two European citizens have been charged for conspiring with Ethereum developer Virgil Griffith to help North Korea evade U.S. sanctions using cryptocurrency, the Department of Justice (DOJ) announced. They conspired “to teach and advise members of the North Korean government on cutting-edge...
US Sanctions Bitriver, Targets Russia’s Crypto Mining Potential
21.4.2022
In an attempt to deny Russia opportunities to evade sanctions through cryptocurrencies, the U.S. Department of the Treasury has sanctioned leading Russian mining firm Bitriver. The move comes amid concerns that Moscow may use the minting of digital coins to monetize its energy resources. Zug-Based...
US Lawmaker Urges Biden Administration to Develop ‘Robust Strategy’ to Prevent Crypto Use to Evade Sanctions
20.4.2022
A U.S. lawmaker has urged the Biden administration to develop a “robust strategy” to prevent cryptocurrency from being used to evade sanctions. “Emerging technologies like cryptocurrency offer many positive applications like humanitarian relief, but the administration has...
Bank of Russia Rejects Idea of Using Cryptocurrency to Circumvent Sanctions
7.4.2022
The Central Bank of Russia has turned down a proposal to allow the use of digital currencies for the purpose of sanctions evasion. The monetary authority believes this is hardly an option as Western regulators are already taking steps to prevent such transactions. Employing Bitcoin to Evade...
Yellen alleges crypto has not been used for significant Russian sanctions evasion so far
6.4.2022
The U.S. Treasury secretary emphasized the department’s crypto monitoring efforts at a House Financial Services Committee hearing Wednesday
Japan Considers Stricter Crypto Regulations in Light of Russia Sanctions
1.4.2022
Authorities in Japan are planning to introduce tougher new rules for crypto operators as part of efforts to prevent Russia from using cryptocurrencies to evade sanctions. The legislative initiative comes after Tokyo asked digital asset exchanges to strengthen transactions monitoring this month....