HMRC targets crypto tax evaders

Pedro Gonçalves
clock • 1 min read

HMRC  is doubling down on crypto tax evaders starting February 2020 as it is offering a contract worth £100,000 for software that can identify when cryptocurrency is used to avoid paying taxes.  The tax office recognises in a statement that the payment options made available by crypto can be used for tax evasion and money laundering. "Crypto-assets, such as Bitcoin and Ethereum, provide a means to transfer value between interacting parties. These services are increasingly used for a range of purposes, from international money transfers, sales of digital services, paying staff and tax ...

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