Chainalysis: Tax evaders use Bitcoin Ordinals and BRC-20 to evade taxes

According to Cointelegraph, Chainalysis reports that tax evaders are evading taxes through emerging digital assets such as Bitcoin Ordinals and BRC-20 tokens. The Italian financial police have uncovered a case where the suspect used Ordinals protocol and BRC-20 standards to generate tokens for sale, hiding approximately $1.1 million in undeclared capital gains. Chainalysis points out that the transparency of blockchain enables tax evasion to be permanently recorded, and related transactions can be exposed through intelligence analysis and cross comparison of exchange data.