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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.


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