Why tax US ganged up on cryptomate?

IRS (IRS) began the test cryptococcal and apparatus for the purchase of bitcoins. The main objective is to identify users who evaded paying taxes, and offenders involved in money laundering and distribution of illegal substances.

Crypto ATMs and kiosks are a popular method of purchasing cryptocurrency, and withdrawal among the American cryptomonadales. However, according to recent data of the information Agency Bloomberg, the IRS is concerned about the potential problem of tax evasion, which may worsen with the increasing popularity of bidinotto.

Read on: Bitcoin-ATMs — what you need to know before using them?

Cryptocurrency and taxes

The problem is that anyone can use one of cryptonomicon or kiosks to buy BTC for cash. Naturally, tax authorities would like to know who are these users, what are their goals, where are their money, and find out many other questions.

All they are required to comply with the rules relating to anti-money laundering, and to verify the identity of their clients. We believe that some of them are rules with insufficient responsibility.

The U.S. internal revenue service. Source: Bitcoinist

Tax office staff fear that buying bitcoin and other cryptocurrencies will be held for illegally obtained money. In addition, then the rate of coins can grow, so the problem will be even greater.

According to the chief of the investigations division of John Fort, the IRS is not the only institution that deals with these problems. Fort explained that he and his team are already working with other law enforcement bodies on this issue. He also spoke about the monitoring of potentially illegal activity that may be associated with the use of these devices. Yet there were no serious incidents, however, the Fort is recognized that some transactions are in their control.

Owners bidayatul will have to meet the requirements of regulators

The number of Cryptococcus in many major cities throughout the USA is constantly growing. This poses a serious threat, given the potential use of cryptocurrencies in crime.

Cryptomath. Source: CCN

However, Fort argues that the situation is complicated because the introduction of rules of verification might encourage U.S. users to hide foreign cryptomeria. It added that the biggest problem today deals specifically with taxes. Yet the government, apparently, no thoughts on how to solve it.

Today, the number of cryptomate on the territory of 75 countries exceeded 6,000 units. 3978 device is located on the territory of the United States. The three leaders also joined Canada and the UK with 290 722 and cryptomelane respectively. To see the full list on the website CoinATMRadar.

Map of cryptomate all over the world. Source: CoinATMRadar

It's funny that cryptomate are a danger not only for the state, which receives less taxes. With their help and also deceive novice users trying to buy cryptocurrency. In early September we got acquainted with the way of cheating, which was invented by a resident of Canada. The scheme is simple: the resourceful swindler has placed on terminals of the announcement of the technical work. They supposedly tested the new software, so you need to use the QR code on the screen and the address on a piece of paper. Of course, it belongs to a scammer who just takes the coins. Read more about this situation we wrote about in a separate article.

In our cryptodata anonymous buyers you will find lots of other useful information.

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0 Comments on “Why tax US ganged up on cryptomate?”

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