Blockchain analysis platform Chainalysis has released a report stating that tax evaders have started shifting to new digital assets such as Bitcoin Ordinals and BRC-20 tokens in an attempt to conceal their wealth from tax authorities. The Italian Foggia Economic and Financial Police Unit recently uncovered a tax evasion case involving individuals allegedly using the Bitcoin Ordinals protocol and the BRC-20 token standard to hide €1 million (about $1.1 million) in unreported capital gains. Investigations showed that the suspects used this technology to create tokens, then sold them on the market for several times their initial cost, and transferred the profits back to their main wallets in Bitcoin for cyclical investment. (Cointelegraph)

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