PANews
PANews|May 21, 2026 06:38
[Chainalysis: Tax evaders are attempting to use 'new digital assets' to evade tax authorities' scrutiny] According to Cointelegraph, Chainalysis released a report stating that tax evaders are turning to emerging digital assets like Bitcoin Ordinals and BRC-20 tokens to avoid tax authorities. Italian financial police have uncovered a related case where suspects used the Ordinals protocol and BRC-20 standard to generate tokens and sell them on the market, hiding approximately $1.1 million in unreported capital gains. Chainalysis pointed out that using cryptocurrency for tax evasion has a 'fatal flaw': the inherent transparency of blockchain leaves permanent and immutable traces. No matter how complex the tax evasion scheme, blockchain intelligence can reconstruct financial networks and cross-reference them with exchange-reported data to expose related transactions.
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