Spanish Tax Authority is Monitoring Bitcoin for Use in Illicit Activities
The Spanish tax authority, the Agencia Estatal de Administración Tributaria (AEAT), is "monitoring" digital currencies to ensure they are not used for illicit purposes such as money laundering and tax avoidance, the country's government has stated. Perhaps more interestingly for bitcoin, the announcement indicated that digital currencies could be treated as cash, not commodities, for the purposes of taxation. Watching bitcoin. According to a report on RTVE.es, the statement was made in response to the Socialist Treasury spokesman in Congress, Pedro Saura, who had requested clarification of....
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It is being reported that the tax authority in Spain, Agencia Estatal de Administración Tributaria, is actively monitoring the bitcoin space to ensure that the digital currency isn't being used for crimes like money laundering, drug trafficking, and tax evasion. This is according to a report from RTVE, who notes that news comes as direct response to socialist Treasury spokesman in Congress, Mr. Pedro Saura. Saura was reportedly curious as to which tax rules applied to the acquisition and use of bitcoin (and other digital currencies), and whether or not the Spanish government had any plans....
The Spanish Treasury has responded to an inquiry regarding Bitcoin gambling from law firm Abanlex. The lawyers asked for clarification on several key points from the Directorate General for the Regulation of Gambling (DGOJ), which is a government body accountable to the State Secretary of the Treasury. The State Secretary of the Treasury is the governmental authority "which regulates, authorises, supervises, controls and, if necessary, penalises gambling activities in Spanish State." Spanish Bitcoin users have had strong backing by services such as Segundamundo.es and incoming Bitcoin....
The U.S. government has acknowledged monitoring the progression of cryptocurrencies. However, Bitcoin’s transparent public ledger and pseudonymity may allow it to fly under the radar. U.S. Gov’t Monitoring Bitcoin Since Beginning. CSRA Inc., which provides information technology services to the U.S. Department of Homeland Security, has confirmed to Newsweek that Bitcoin was under surveillance as early as its initial development. The biggest concern is that the peer-to-peer, trustless monetary network may lead to an unprecedented creation of an absolutely anonymous one. If a truly anonymous....
A Russian company indirectly backed by Russia's largest bank will build a crypto tracking platform as part of a $200,000 procurement contract. Federal authorities in Russia are moving forward with a plan to closely monitor cryptocurrency activity for illicit transactions and deanonymize crypto users’ identities.The Russian Federal Financial Monitoring Service, also known as Rosfinmonitoring, has selected a contractor for developing a platform for tracking cryptocurrency activity. According to data from Russia’s state procurement website, the country will allocate 14.7 million rubles....
China has become a hotbed of illicit crypto trade lately. The country has earned quite a reputation in the international community when it comes to scams and illegal activities involving cryptocurrencies. For the past months and years, there have been a number of notable illicit activities originating from the country or involving Chinese nationals that were […]