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IRS launches international initiative to hunt down cryptocurrency tax fraudsters

IRS has allied with tax authorities from Australia, Canada, the Netherlands, and the UK to fight tax crime and money laundering with cryptocurrency and other financial assets.

The joint efforts — named ‘Joint Chiefs of Global Tax Enforcement (J5)’ — will comprise of six agencies from the five countries which will share information and intelligence, conduct joint investigations, and attempt to improve operational capability to grow international crime enforcement efforts.

It is worth noting that authorities all across the globe have increased their efforts in fighting cryptocurrency related crimes.

Authorities in both the US and Europe recently seized millions of dollars in cryptocurrencies in raids against drug sellers on the dark web. The US Department of Justice is also currently probing cryptocurrency market manipulation.


Original Story at TNW.

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