“Tomorrow’s tax havens could be fueled by new technology like Bitcoin and Litecoin — online currencies that can be used to purchase everything from coffee to illegal drugs. The problem for government coffers: There’s no mechanism to ensure that people who make money through such digital currency report the income to the IRS. In its fight against tax evasion, the U.S. is largely focused on shining a light into bank accounts held by Americans in other countries. But experts say the rise of Bitcoin, which doesn’t require a bank account, could force the U.S. to rethink its approach.”

http://dyn.politico.com/printstory.cfm?uuid=28235F0D-EFE8-3E6D-CD70B733F96ED8D5

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy