Tax Authorities Around the World Are Taking Closer Look at Cryptocurrency2

The U.S. Internal Revenue Service (IRS) is set to release new guidance regarding cryptocurrencies. Japanese tax authorities have been poring through domestic exchange data, looking for tax cheats. Australia’s own chief taxation agency is running a dozen investigations into global tax avoidance ploys involving crypto.

These new developments highlight what’s increasingly obvious: top cryptocurrencies are a growing concern for tax departments the world over, as they allow commerce beyond traditional, and already regulatory captured, financial systems.

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