Tax enforcement authorities from Australia, Canada, the Netherlands, the United Kingdom and the United States have have came together to form a Joint Chiefs of Global Tax Enforcement to tax the cryptocurrency. I think this will greatly decrease the prices of cryptos. Read More: https://shuftipro.com/blogs/international-tax-body-curb-cryptocurrency-based-tax-evasion/ What you suggest?
I don't think that it will have a long term effect on the price because I don't see any negative impact except if you are one of their targets. Their aim is to really curb out the bad eggs amongst us who are hiding their assets on crypto and doesn't want to pay tax.
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At their first meeting last week, the J5 brought together leading experts in tax and other financial crimes from each of the five member countries. Together they developed tactical plans and identified opportunities to pursue cyber criminals and enablers of transnational tax crime. The J5 will do this through the sharing of data and technology, conducting operational activity and taking advantage of collective capabilities.
On the contrary, it may really bring some positive from the cooperation of the 5 nation. If someone accuses crypto that it is being used by the criminals to hide their tainted money, then we should all tell them the J5 is closing on them.
