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Chainalysis: Tax evaders are using "new digital assets" to evade taxes.

MeNews
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ME News message, May 21 (UTC+8), according to Chainalysis monitoring, tax evaders are turning to digital methods such as Bitcoin Ordinals and BRC-20 tokens in an attempt to hide assets from tax authorities. Italian authorities recently cracked a tax evasion case in which an individual was suspected of using Bitcoin Ordinals and the BRC-20 token standard to generate and conceal 1 million euros, approximately $1.1 million, in undeclared capital gains. The suspect used the Ordinals protocol and the BRC-20 standard to create tokens, then sent them and listed them on the market. The assets were sold at multiples of their original cost, with profits transferred back to the main wallet in Bitcoin, and continuously reinvested into new inscriptions. Chainalysis stated that using cryptocurrencies to evade taxes has a fatal flaw: the inherent transparency of the blockchain leaves a permanent and immutable trace. (Source: ODAILY)
BTC3.56%
ORDI-4.96%
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