Tax evasion through cryptocurrencies

Atanas  Lyondev

Authors

Atanas Lyondev Higher School of Security and Economics

Keywords:

cryptocurrency, bitcoin, blockchain, crypto-business, crypto wallets, tax treatment

Abstract

Bitcoin is an innovative currency that is not regulated by governments like any other cryptocurrency. Cryptocurrencies can make payments very quickly and at almost no cost. One of the advantages of bitcoin is the fact that the virtual currency avoids the main problem inherent in conventional currencies, namely inflation. One of the big advantages is anonymity. Nobody knows how much bitcoin a person owns. It is also not known what transactions make and a new way to avoid paying taxes.

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