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Crypto Gets Swept Up in International Tax Evasion Crackdown

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By CCN: An international tax evasion authority comprising five major global economic powers is taking cryptocurrency seriously. A year ago, five world powers created the Joint Chiefs of Global Tax Enforcement, or J5, with a particular interest in cryptocurrencies. The J5 Group including tax authorities in the U.S., U.K., Canada, Australia, and the Netherlands is at the helm of 50 investigations into global tax evasion. The Sydney Morning Herald reported Thursday that of the 50 lines of inquiry, Australia is directly involved in 12. At least one of the subjects of the Australian Tax Office’s investigation is an unnamed international financial

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* First published on ccn.com

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