Crypto NewsEconomyIRS Sends Investigators Abroad to Research Crypto

IRS Sends Investigators Abroad to Research Crypto

The American Internal Revenue Service has decided to send experts abroad to examine the status of cryptocurrencies in financial crimes.

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The American Internal Revenue Service IRS has decided to send experts abroad to examine how the rest of the world is taking action against cryptocurrencies in financial and tax crimes.

According to local sources, the IRS is assigning four senior investigators specializing in cybercrime in Singapore, Germany, Colombia and Australia. Tax experts will inform the revenue agency for the pilot implementation planned for June-September 2023.

IRS spokesperson Carissa Cutrell explained the mandate, stating that the program will take 120 days:

"Experts we have assigned abroad will share examples with us so that we can identify how we can prevent the use of cryptocurrencies in international financial crimes. We believe that the program will be successful if there is sufficient cooperation."

Cryptocurrencies and Tax

Cryptocurrencies, which are decentralized by nature, are not under the control of any government. The fact that digital assets are very difficult to track increases the tax revenue concerns of the states.

Although some countries have tried to ban crypto completely to overcome this problem, they have not achieved a satisfactory result. In general, governments that combine the sector with the traditional financial system rather than ban it get more successful results.



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