Malta may call itself the “Blockchain Island” but it got some stiff competition on April 15 when French Finance Minister Bruno Le Maire proposed that its European Union partners “set up a single regulatory framework on crypto-assets inspired by the French experience."
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This looks like someone may be in trouble for evading taxes with cryptocurrencies (via Shutterstock)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…
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Obviously, not a real photo because an FBI agent would leave his pistol lying around like that to use a laptop. Nonetheless, guys in windbreakers are Bobby Axelrod's biggest nightmare and this guy has a windbreaker, so there's that (via Shutterstock)Victim of $2 million livestreamed theft claims FBI involvement, responds to allegations
Ian Balina seems to be having a rough week and some are now making big accusations
We love a good heist story. But there’s a big difference between the Icelandic heist where $2 million in mining rigs were stolen and the story from Monday where a single crypto YouTuber named Ian Balina lost $2 million to hackers. “I’ll be ready to talk when the criminal has been arrested,” he told Modern Consensus Tuesday. “We have identified who did it and this is a lot bigger than me. Other big names in crypto have been hacked by this criminal. Currently working with FBI, that’s all that I can say.” A representative from the FBI field office in New York City could not confirm they were investigating the…
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Yes, you need to pay taxes on your crypto profits
Data suggest you’re probably not going to tell the IRS about your gains
As popular as it is to trade cryptocurrency, it seems it’s even more popular to hide it from the government. The American tax deadline is nigh, so U.S. citizens are tabulating their finances for Uncle Sam to take his cut. But a survey of 250,000 people filing their taxes on a platform called Credit Karma reveals that only 100 of them are declaring capital gains income from their cryptocurrency holdings. It’s a safe assumption that most traders aren’t reporting jack squat. Bitcoin tredecupled in value (that is, it climbed in value more than 13 times) last year, helping to turn cryptocurrency at large into a $500 billion sector. Thomas Lee,…
