Governments always suspected that it will be used as a tax avoidance schemes. That’s why the radical crackdowns were more or less understandable from their point of view as much as they were futile. The regulatory framework must be very adaptable to avoid such abuses.
Now a report has surfaced which has estimated the total amount of tax dollars which were not paid. The crypto assets were utilized by some to store their value without paying the taxes. The government’s nightmarish situation came true even if partly.
What is Crypto and Bitcoin share in 20 Trillion Tax Avoidance Market?
The report suggest that almost 20 trillion USD is hidden from the tax collectors. The real question now arriving in the minds of the crypto community and regulators alike is the share of Bitcoin and other cryptocurrencies in this number.
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