Last week U.S. Senator Elizabeth Warren (D-MA), along with ten other democrat senators, introduced a bill to block cryptocurrency companies from conducting business with sanctioned companies, fearing ...
Tag: Evasion
DOJ Task Force ‘KleptoCapture’ to Target Crypto Exchanges in Sanctions Evasion Crackdown – Regulation Bitcoin News
A new task force set up by the U.S. Department of Justice (DOJ), KleptoCapture, will also target cryptocurrency exchanges. Financial institutions, banks, money transmission services, and crypto exchan...
Chainalysis Launches Screening Tools Designed to Prevent Sanctions Evasion – Coinotizia
Blockchain forensics company Chainalysis is launching two tools that will allow crypto companies to deny sanctioned persons and entities access to their platforms. The move comes amid concerns that Ru...
Chainalysis Launches Screening Tools Designed to Prevent Sanctions Evasion – Blockchain Bitcoin News
Blockchain forensics company Chainalysis is launching two tools that will allow crypto companies to deny sanctioned persons and entities access to their platforms. The move comes amid concerns that Ru...
White House, G7 Say New Guidance Is Coming on Crypto Sanctions Evasion
“It’s hard” to move billions of dollars worth of crypto, Redbord noted. It’s possible some oligarchs might turn to crypto, but that may not be their first choice. Redbord, who ...
Estados Unidos y el G7 anuncian nuevas medidas contra la evasión de sanciones mediante cripto
“Es difícil” mover miles de millones de dólares en cripto, señaló Redbord. Es posible que algunos oligarcas recurran a las criptomonedas, pero quizá no sea su primera opción. Redbord, quie...
White House reiterates that the Treasury is on the lookout for crypto in Russian sanctions evasion
advertisement In a March 11 fact sheet on sanctions on Russia, the White House is once again spotlighting crypto as an area of concern. The fact sheet spotlights coming “New guidance by the Depa...
US Senator Elizabeth Warren Drafts New Crypto Legislation Targeting Russian Sanctions Evasion: Report
As tensions between the United States and Russia spread across numerous sectors, Senator Elizabeth Warren is looking to crack down on potential cryptocurrency loopholes. According to an NBC News repor...
Sanction evasion could increase cryptocurrency usage
Cryptocurrency usage could spike in the midst of the current sanctions against Russia Coinbase has supported the government’s efforts with national security in mind Unlawful aggression could be avoid...
FinCEN Issues ‘Red Flags’ on Potential Sanctions Evasion Using Cryptocurrency – Regulation Bitcoin News
The Financial Crimes Enforcement Network (FinCEN) has issued an advisory on Russian efforts to evade sanctions that includes a number of crypto-related red flags. However, the bureau admitted that it ...
Estonia Calls to Restrict Crypto Amid Fears of Russian Sanctions Evasion
Estonia’s Prime Minister, Kaka Kallas, has warned against the use of crypto to avoid sanctions amid Russia’s invasion of Ukraine, per Reuters. “Our focus must be on full isolation o...
Coinbase Purposes Use Of Cryptocurrencies To Prevent Sanction Evasion
Highlighting the possibility in traditional finance structures to evade compliance with economic sanctions, well-known crypto exchange Coinbase purposed to use cryptocurrencies to prevent laundering a...
US AML watchdog issues alert on potential crypto sanctions evasion from Russia
US authorities continue to be on high alert for Russia to use cryptocurrencies to evade the recent round of sanctions. On March 7, the Financial Crime Enforcement Network, or FinCEN, put out an alert...
Governments are on high alert for crypto in Russian sanctions evasion that nobody has seen yet
Public figures in the US and Europe have spoken with growing alarm about the threat of Russian sanctions evasion via crypto. As it stands, those fears remain unsubstantiated. The US, EU, UK, and the ...
Yellen Says Treasury Will Monitor Crypto, Other Channels for Sanctions Evasion
In brief Several Senate Democrats asked Treasury Secretary Janet Yellen how the department would make sure crypto couldn’t be used to bypass sanctions against Russia. Yellen said the Treasury De...
Lawmakers Raise Alarm on Crypto for Sanctions Evasion as Experts Cast Doubt
Still, lawmakers want assurances from Yellen that the Office of Foreign Assets Control (OFAC), which enforces U.S. sanctions rules, will be able to maintain the blocks against Russian banks and oligar...
Russia: ECB President Calls for Crypto Regulation to Prevent Sanction Evasion
As crypto adoption continues to rise globally, the implication of this is that its use gets to shape global affairs in the comity of states. In the latest of such scenarios, the ongoing global crisis...
UK’s HMRC Makes the First NFT Seizure in Tax Evasion Scandal
The United Kingdom’s tax authority, Her Majesty’s Revenue and Customs (HMRC) have arrested three suspected tax evaders and seized three Non-Fungible Tokens (NFTs), a confiscation that marks the very f...
Colombia clamps down on crypto tax evasion as adoption thrives
Down in Bogotá, cryptocurrency adoption is raging on. Colombia’s tax authority, the DIAN, (Dirección de Impuestos y Aduanas Nacionales de Colombia) has begun to catch up. It seeks to take “special mea...
‘No one is above the law’: Oil tycoon tried to stiff his ex-wife in a bitter divorce — now he’s going to prison for tax evasion
Todd Kozel made his riches in the oil fields of Kurdistan and now will have to pay the price. The once-jet-setting co-founder and chief executive of Gulf Keystone Petroleum is headed to prison for fiv...
India Seeks Introduction of Anti-Tax Evasion Crypto Laws
The new budget session of Parliament in India is particularly important given that this is allegedly when the country is going to make some hardcore decisions regarding the future of crypto within the...
India Accuses WazirX of Tax Evasion, Future of Local Crypto Sector Remains Unclear
India’s largest cryptocurrency trading platform, WazirX, has been accused by the country’s authorities of tax evasion worth $5.4 million (40.5 crore rupees). On December 31, the Mumbai office of the g...
India’s Leading Crypto-Exchange WazirX Finally Responds to Tax Evasion Allegations
WazirX, a Binance-owned Indian cryptocurrency exchange, was recently found to be defaulting in its tax to the Indian government. Following a visit from the officers of India’s Goods and Services Tax a...
Cryptocurrency tax evasion in India motivates regulators to create new policies
TL;DR Breakdown • Regulators in India blame Exchange WazirX for Tax evasion.• Cryptocurrencies start the year 2022 with a balanced figure in their price. After WazirX, a crypto exchange in India made ...
Binance owned WaziriX alleged of tax evasion in India
TL;DR Breakdown WaziriX alleged of tax evasion by Indian authorities. Exchange says allegation is a case of lax in clarity, regulation. Other exchanges also being investigated in India. Binance-owned ...
Binance-owned exchange WazirX targeted by India’s government for alleged tax evasion
Tax authorities in Mumbai announced Friday that they had uncovered tax evasion by the Binance-owned crypto exchange WazirX. According to a statement from the GST Mumbai East Commissionerate of Mumbai ...
WazirX to pay $66M in a tax evasion case
WazirX, one of India’s leading crypto exchange platforms, has paid more than $6.6 million for failure to pay the Goods and Services Tax (GST) on trade commissions. The money paid by the exchange will ...
India: Dull New Year for crypto as platforms to face raids over alleged tax evasion
A local media report has confirmed that major cryptocurrency service providers are under investigation in India on suspicion of possible tax evasion. After Cryptocurrency exchange WazirX, offices of m...