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UK Watchdog Asks Crypto ATM Providers to Stop Operating or ‘Face Enforcement Action’
13.3.2022
U.K. watchdog, the Financial Conduct Authority (FCA), has told firms running crypto ATMs in the country that they are operating illegally and must therefore shut down their machines. Operators that fail to heed the warning will face enforcement action, the FCA said. Crypto ATM Providers Operating...
DOJ Task Force ‘KleptoCapture’ to Target Crypto Exchanges in Sanctions Evasion Crackdown
13.3.2022
A new task force set up by the U.S. Department of Justice (DOJ), KleptoCapture, will also target cryptocurrency exchanges. Financial institutions, banks, money transmission services, and crypto exchanges that allow Russian oligarchs to move money “will be in the crosshairs of this...
Chainalysis Launches Screening Tools Designed to Prevent Sanctions Evasion
11.3.2022
Blockchain forensics company Chainalysis is launching two tools that will allow crypto companies to deny sanctioned persons and entities access to their platforms. The move comes amid concerns that Russia may use cryptocurrencies to evade sanctions imposed due to its invasion of Ukraine....
Estados Unidos y el G7 anuncian nuevas medidas contra la evasión de sanciones mediante cripto
11.3.2022
Funcionarios de la Casa Blanca y del Tesoro de los Estados Unidos han dicho en múltiples ocasiones que hay poca preocupación de que las criptomonedas se utilicen para evadir las sanciones contra Rusia
White House, G7 Announce New Guidance Is Coming on Crypto Sanctions Evasion
11.3.2022
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
Report: Estonian Prime Minister Calls for Restriction of Cryptocurrencies
10.3.2022
The Prime Minister of Estonia has said cryptocurrencies must be restricted in order to address loopholes that may be used by sanctioned Russian entities to evade the punitive measures. In addition, the premier wants all Russian as well as Belarusian banks to be removed from the global payment...
FinCEN Issues ‘Red Flags’ on Potential Sanctions Evasion Using Cryptocurrency
9.3.2022
The Financial Crimes Enforcement Network (FinCEN) has issued an advisory on Russian efforts to evade sanctions that includes a number of crypto-related red flags. However, the bureau admitted that it has not seen “widespread evasion” of its sanctions using cryptocurrency. FinCEN Warns...
Crypto Can Better Deter Sanction Evasion Compared to TradFi - Coinbase
7.3.2022
Crypto's transparent nature makes it a terrible choice for those who want to evade sanctions, said Paul Grewal, Chief Legal Officer (CLO) of major crypto exchange Coinbase.
Following Russia's invasion of Ukraine, the US and its allies imposed an extensive round of sanctions on a number...
Washington, Europe Vow to Target Russian Crypto Sanctions Evasion Efforts
3.3.2022
The next round of sanctions against Russia and wealthy individuals based in the country could target crypto and crypto exchanges, with Washington already taking aim at those hoping to secure their funds by making bitcoin (BTC) and altcoin buys....
Read More: Washington, Europe Vow to Target...
Lawmakers Raise Alarm on Crypto for Sanctions Evasion as Experts Cast Doubt
2.3.2022
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. The senators asked Treasury Secretary Janet Yellen what steps her department would take...
Colombia clamps down on crypto tax evasion as adoption thrives
2.2.2022
Colombia’s tax authority is tightening the screw on Bitcoin and cryptocurrency-related tax evasion against a backdrop of burgeoning cryptocurrency adoption
Colombian Tax Authority Tightens Control Over Cryptocurrency Usage
2.2.2022
The DIAN, the Colombian tax authority, has announced it is taking special measures to tighten controls on taxpayers currently using cryptocurrencies to transact. With these actions, the organization seeks to detect any taxpayers that have used crypto assets and failed to report these activities,...
Cryptsy CEO Indicted for Defrauding Crypto Investors, Destroying Evidence
28.1.2022
The CEO of cryptocurrency exchange Cryptsy has been indicted in the U.S. The 17-count indictment charges the crypto exchange executive with “tax evasion, wire fraud, money laundering, computer fraud, tampering with records, documents, and other objects, and destruction of records in...
Indian Crypto Industry Seeks Tax Clarity in Union Budget 2022-23
10.1.2022
An Indian industry association has written to the country’s finance minister seeking clarity on cryptocurrency taxation in Union Budget 2022-23. “The budget should ideally offer coherent rules on direct taxation and the GST Council should detail the applicability of taxation, else...
Indian Authorities Raid Cryptocurrency Exchanges for Tax Evasion
1.1.2022
India’s Directorate General of GST Intelligence (DGGI) reportedly raided major cryptocurrency exchanges Saturday. Their offices were searched and “massive goods and services tax (GST) evasion has been detected by DGGI.” Tax Authorities Say Cryptocurrency Exchanges Have Been...
Nym Technologies raises $13M to develop surveillance-evasion platform
18.11.2021
The firm are expected to roll-out their mainnet product in the coming months
Seven Hours With Turnip Boy Commits Tax Evasion's Free DLC
19.10.2021
With a name like Turnip Boy Commits Tax Evasion, I was hoping to learn a thing or two about taxes, government regulation, and the ways in which the system fundamentally screws people out of money and property. While I can’t say I learned anything about tax evasion playing this adorable 2D action...
Crypto Firm Owners Plead Guilty to Tax Evasion, Face up to 5 Years in Prison
14.10.2021
The owners of a cryptocurrency firm that raised approximately $24 million from more than 13,000 investors have pleaded guilty to tax evasion. “These crypto-savvy defendants exploited an emerging technology, lying to their investors, pocketing the proceeds, and concealing the income from...
Janet Yellen Defends Tax Compliance Agenda — 3 State Treasurers Promise Not to Comply
6.10.2021
The 78th United States secretary of the treasury, Janet Yellen, is very concerned about tax evasion, according to statements she made during an interview with CNBC’s “Squawk Box” that aired on October 5. Yellen claims there’s an “enormous tax gap” and...
While Politicians Worldwide Clamor Over Tax Evasion, Pandora Papers Show Bureaucrats Are the Worst Offenders
5.10.2021
As bureaucrats across the globe continue to ask the common citizenry for access to every financial decision they make, politicians and celebrities worldwide are hiding large amounts of wealth in tax havens according to the Pandora Papers. While American politicians like the Biden administration...