BTCC
/
BTCC Square
/
Global Cryptocurrency
/
HMRC Deploys AI and Global Partnerships to Combat Crypto Tax Fraud
HMRC Deploys AI and Global Partnerships to Combat Crypto Tax Fraud
5
3
BTCCSquare news:
His Majesty's Revenue and Customs (HMRC) is intensifying its crackdown on cryptocurrency tax evasion through advanced data analytics and artificial intelligence. Richard Las, Chief Investigation Officer, revealed the agency's tech-driven strategy on Chainalysis' Public Key podcast, emphasizing undeclared capital gains as a critical compliance gap.
International collaboration forms the backbone of HMRC's approach, with cross-border partnerships enhancing investigative capabilities. While crypto assets haven't replicated traditional money laundering patterns, their opacity creates unique tax enforcement challenges. The agency's intelligence-led framework now leverages machine learning to identify evasion patterns across blockchain networks.
By:
Previous
Powell Backs Crypto Services, With Key Conditions
Next
Anthropic Secures Partial Win in AI Copyright Case, Setting Precedent for Fair Use
