Crypto Tax Dodgers Are Tempting Fate
The ways governments tax cryptocurrency users may be unjust and due for reform, but simply ignoring the law for this reason is a dicey proposition.
The former Microsoft software engineer was sentenced Monday for an elaborate criminal scheme involving bitcoin and digital gift cards.
The crypto-rich are just like the usual rich: They will do whatever it takes to avoid paying taxes including moving abroad. But bitcoin makes that much easier.
"Bruno Brock" is alleged to have avoided tax on sales of the pearl cryptocurrency as well as minting free tokens for himself.
The tax authority in Thailand is testing a blockchain system that tracks value-added tax (VAT) invoices and potentially eliminate fakes.
Tencent is working with a local tax authority on fintech solutions to tax issues, and already has a blockchain product for invoicing.