• Oyster Protocol exit scammer arrested
    Alt coins,  Regulation

    Oyster Protocol founder arrested for exit scam, tax evasion

    The U.S. Securities and Exchanges Commission brought separate civil charges against Amir Bruno Elmaani for failing to register his Oyster Pearl tokens as securities

    Crypto-powered data storage platform Oyster Protocol was an exit scam that brought founder Amir Bruno Elmaani—also known as Bruno Block—a lavish lifestyle featuring several yachts, according to the U.S. Department of Justice.

  • OECD crypto tax evasion standards

    OECD to issue international crypto tax evasion standards next year

    The organization’s new cryptocurrency tax reporting standards will likely be adopted around the world—much like its regular tax evasion guidelines were in 2014

    OECD center for tax policy Director Pascal Saint-Amans said that there is already broad agreement among relevant regulators that there is a need for an international crypto asset tax reporting standard. He said that the timeline in which the organization expects to deliver the standard is “probably sometime in 2021.

  • McAfee on prison life

    McAfee on prison life: ‘Like the Hilton without turn down service’

    The crypto enthusiast, charged with tax evasion, says he is having a ‘fascinating time’ in Spanish jail—and is sharing his cell with a drug dealer

    The crypto enthusiast’s wife, Janice, said on Twitter that he was in “good spirits” despite being in detention—and that he had this message for his followers: “Hello from prison my friends. I am having a fascinating time. Spanish prison is not that bad. We can wear whatever clothes we want. We can smoke and socialize. It’s like the Hilton without turn down service.”

  • crypto handcuffs
    Canada,  Europe,  Regulation,  United States

    Five countries join forces to crack down on crypto tax crimes

    Tax authorities from US, UK, Australia, Canada, and Netherlands coordinating enforcement

    A group of five nations have formed an international alliance to fight cryptocurrency-related tax crimes and money laundering schemes. The Joint Chiefs of Global Tax Enforcement, or J5, includes tax agencies from Australia, Canada, the Netherlands, the United Kingdom, and the United States. Authorities from the five countries hope the collaborative effort will increase their success in combating cross-border tax crimes. “We will work together to gather information, share intelligence, conduct operations, and build the capacity of tax crime enforcement officials,” the group said on its new page on the IRS website, adding that J5 plans on piloting new approaches and conducting joint operations against offshore tax crimes. Cryptocurrency allows…