Crypto

Crypto Poses Significant Tax Problems—And They Could Get Worse – IMF Researchers
10 Jul

Crypto Poses Significant Tax Problems—And They Could Get Worse – IMF Researchers

wontumionlineBusiness,
Crypto assets that can be used as instruments of payment have proliferated into more than 10,000 variants since the 2009 debut of Bitcoin, the first and still the largest. The bewildering speed with which they have developed and the pseudonymity they can provide have left tax systems playing catch up. In a new paper, we discuss how governments can address the emerging challenges of taxing these crypto assets while its use is still limited so that they prevent a leakage in tax revenue and protect the integrity of the tax system. Classifying crypto Views of crypto assets are diverse and held…
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Technology Behind Crypto Can Also Improve Payments — Provides A Public Good
28 Feb

Technology Behind Crypto Can Also Improve Payments — Provides A Public Good

wontumionlineBusiness
A new kind of multilateral platform could improve cross-border payments, leveraging technological innovations for public policy objectives. Crypto assets have been more of a disappointment than a revolution for many users and global bodies such as the International Monetary Fund (IMF) and the Financial Stability Board urge tighter regulation. Some of the rapidly evolving technology behind crypto, however, may ultimately hold greater promise. The private sector keeps innovating and customising financial services. But the public sector too should leverage technology to upgrade its payment infrastructure and ensure interoperability, safety and efficiency in digital finance, as we noted in a recent…
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