The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made b...
Tag: Evasion
Colombia Plans to Launch Digital Currency to Reduce Tax Evasion – Regulation Bitcoin News
The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made b...
First Crypto-Based Import by iran Raises Concerns Over Sanction Evasion
Iran has made its first official import order using cryptocurrency this week, a step that could allow the country to bypass U.S. sanctions. The order, worth $10 million, could enable the nation to tra...
Crypto Exchange Kraken Under Investigation for Allegedly Allowing Iranian Sanction Evasion: Report
Crypto exchange Kraken is reportedly under federal investigation for allegedly violating a US sanction against Iran. The US has imposed restrictions on activities with Iran following the hostage crisi...
Peter Schiff’s Bank Closed Over Alleged Tax Evasion
Regulators in Puerto Rico issued a cease-and-desist order to a bank that is owned by bitcoin critic Peter Schiff BTC Price at the time of writing – $19,988.88 The bank has been under probe over allega...
Bitcoin Critic Peter Schiff’s Bank Closed Over Alleged Tax Evasion, Money Laundering
Regulators in Puerto Rico have issued a cease-and-desist order to a bank that is owned by bitcoin critic Peter Schiff, which has been the subject of an international investigation over tax evasion and...
Bitcoin Critic Peter Schiff’s Bank Account Closed Over Alleged Tax Evasion, Money Laundering
Regulators in Puerto Rico have issued a cease-and-desist order to a bank that is owned by bitcoin critic Peter Schiff, which has been the subject of an international investigation over tax evasion and...
Chrisleys Are Convicted Of Tax Evasion & Bank Fraud, Don’t Know Best
Todd and Julie Chrisley were indicted in August 2019 on a raft of a federal tax and bank charges, and a new indictment was filed in February of 2022. They were just convicted of all charges by a jury ...
Terra Do Kwon Faces Fraud Lawsuits From Investors And $78M Tax Evasion Fine
As the Terra saga continues to unfold, the project’s founders have become the target of the crypto industry’s ire. In the aftermath of Terra’s catastrophic failure, South Korean investors are currentl...
LUNA remains most trending crypto despite total crash and founder’s $78 million tax evasion fine
Last week, Terra (LUNA) suffered a complete and utter implosion; however, investors continue to trade the token despite its enormous fall, which saw the price of LUNA lose its value by 99%, plummeting...
More Troubles for Do Kwon as S. Korea Levies $78M Tax Evasion Fine
Terraform Labs is currently being charged with tax evasion fraud by the South Korean National Tax Service, a move that complicates matters for the startup that is trying to salvage its collapsed block...
South Korean watchdog reportedly fines Terraform Labs $78M for tax evasion
Terraform Labs and co-founder Do Kwon continue to attract more legal trouble in the wake of the collapse of the Terra ecosystem. After early reports of a possible congressional hearing and an investig...
South Korea Slams Terra’s Do Kwon With $78M Fine for Tax Evasion: Report
South Korea’s National Tax Service has reportedly ordered Terraform Labs, its co-founder Do Kwon, and other executives to pay a 100 billion won ($78 million) fine for tax evasion penalties. The Genesi...
Terra Founder Do Kwon Faces Tax Evasion Charges In S. Korea
Amid the ongoing Terra debacle, founder Do Kwon has now reportedly come under further scrutiny from the South Korean government for alleged tax evasion. South Korea’s Tax Service is charging Kwon and ...
Terra Loses More Form: Do Kwon Faces Tax Evasion Charges; Law Firm Sues To Seize Properties
The multibillion-dollar collapse of Terra Labs’ stablecoin and the LUNA token is still ringing across the cryptocurrency industry, and numerous questions for Terra’s South Korean founder, Kwon Do-hyun...
US establishes first cryptocurrency evasion case
The US Department of Justice has launched its initial-ever case involving the employment of cryptocurrency to evade sanctions. The U.S. government is ready to bring charges against an unidentified ind...
U.S. Government Launches First Crypto Sanctions Evasion Case
Key Takeaways The U.S. government has launched its first case involving the use of Bitcoin transactions to evade sanctions. The defendant allegedly created a payments platform and moved approximately ...
Argentinian Tax Agency Supports Creation of Global Crypto Report System to Avoid Evasion – Taxes Bitcoin News
The AFIP, the Argentinian tax agency, is supporting the creation of a centralized system that serves as a registry for cryptocurrency holders. According to statements from its head, this would make it...
US IRS To Start Crackdown on NFT Traders for Tax Evasion – crypto.news
According to a recent report, the US IRS plans a crackdown on NFT investors who evade tax. However, many NFT stakeholders complain that there are no clear tax regulations around NFT. IRS Crackdown on ...
IMF still trying to pin Russian sanctions evasion on crypto
The IMF has doggedly continued to accuse the crypto sector as a place where Russia can dodge the sanctions imposed on it by the Western alliance. From anonymising tools to crypto mining, the IMF appea...
Fraud prevention start-up Seon raises funds to fight sanctions evasion
Fintechs have come under increased pressure to address Russian sanctions evasion, particularly amid concerns that their controls may be more lax than that of banks. Kirill Kudryavtsev | Afp | Getty Im...
Sanctions Evasion: Ethereum developer Virgil Griffith sentenced to 63 months jail for helping North Korea
TL;DR Breakdown Former Ethereum developer Virgil Griffith was tried for various allegations. Griffith attended a conference in Pyongyang regarding cryptocurrency, helping North Korea in sanctions evas...
Former Ethereum Developer Virgil Griffith Jailed For Role in North Korea Sanctions Evasion
Former Ethereum developer Virgil Griffith has been sentenced to more than five years in U.S. federal prison for helping North Korea evade sanctions. Griffith was arrested in 2019 and pleaded guilty la...
Yellen says crypto hasn’t been used for significant Russian sanctions evasion so far
United States Treasury Secretary Janet Yellen told the House Financial Services Committee on Wednesday that her department is not seeing significant use of cryptocurrencies to evade sanctions placed o...
Congresswoman calls Yellen to account for work on targeting crypto in Russian sanctions evasion
Lawmakers want more answers on the Treasury’s work targeting crypto in Russia’s sanctions evasion. On April 6, Janet Yellen, secretary of the US Treasury Department, testified before the H...
Exness Hits $2T, Ronin Hack, Sanctions Evasion and NFTs: Editor’s Pick
It’s been another busy week in terms of news as a lot of development has happened in the forex, fintech and cryptocurrency industries. Finance Magnates has short-listed some of the top stories f...
US Treasury to Hold Crypto Exchanges Accountable for Sanction Evasion
There has been some saber-rattling by the Deputy U.S. Treasury Secretary this week as cryptocurrencies remain in the spotlight as a primary concern for Russian sanction evasion. On March 29, Deputy U....
Indian Government Reveals 11 Crypto Exchanges Investigated for Tax Evasion, $13 Million Recovered – Taxes Bitcoin News
The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them...
11 Crypto Exchanges Fined for Tax Evasion in FY22: Indian Minister 11 Crypto Exchanges Were Fined for Tax Evasion FY22: Indian Minister
The evasion of Goods and Services Tax (GST) by crypto exchanges was figured in the Indian Parliament on March 28. Minister of State for Finance Pankaj Chaudhary informed that 11 such digital asset pla...
Japan To Tighten Crypto Rules for Preventing Sanctions Evasion
The Japanese government is planning to make stricter rulings on cryptocurrency exchanges, as the country announced plans to amend its Foreign Exchange and Foreign Trade Act. According to Hokazu Matsun...
Indian Govt. Charges 11 Crypto Exchanges For Tax Evasion
The Indian government had accused 11 crypto exchanges, including WazirX, CoinDCX, CoinSwitch Kuber, of tax evasion, said Minister of State for Finance Pankaj Chaudhary in a written response to the Par...