If just one percent of the assets in offshore tax haven bank accounts come into bitcoin.. 2.8 million USD per bitcoin (video)

With the Trump effect and the promise of lower corporate tax rates (35 percent to 15 percent), we are likely to see a resurgence of moving jobs back onshore. However, not all of this will be done by people. Overcapacity in outsourcing. Why would any organization these days outsource anything using offshore labor arbitrage? As many IT (ITO) and business process outsourcing (BPO) contracts come up for renewal, the question remains, how many rebids will be successful - 50 percent, 25 percent or 10 percent? There is overcapacity in outsourcing as demonstrated by further mergers - HP acquiring....

The Financial Crimes Enforcement Network wants U.S. persons who hold crypto in offshore accounts to report holdings over $10,000.

Without a hint of irony, the central bank of Cyprus warned citizens against cryptocurrencies, noting that such money is not government-backed, volatile and ripe for money laundering. The bank does not go so far as to describe digital currencies — chiefly Bitcoin — as illegal, but “does not approve any activity that falls within its purview, unless it can ensure the legality of that activity.” To quickly sum up the last year in Cyprus: The country accepted an EU bailout of about 10 billion euro, closed its second-largest bank, froze everyone’s bank accounts, then skimmed money off the top....

Despite its volatility, Bitcoin has been the best performing currency in the world for 5 of the past 6 years. The rapidly increasing value of the digital currency and its decentralized nature have led it to be considered as the global safe asset for investors and traders. For decades, Swiss bank accounts were the ideal global asset for most entrepreneurs and investors, due to its anonymity and privacy. Prior to the formation of a contract between the EU and Switzerland, anyone could open Swiss bank accounts, store funds and be free of all tax obligations. The end of the Swiss banks era.....

While there is an argument to be made for strengthening anti-money laundering rules,the implementation may leave much to be desired. In the end, it will all come down to how these new proposals will be enforced. Tax evasion through offshore accounts and shell companies remains a serious problem. The European Commission unveiled their plans to Clamp down on these practices moving forward. Clamping down on individuals and companies trying to avoid paying taxes is the primary objective right now.Moreover, the commission will also go after lawyers and tax advisers helping clients to sluice....