US will start looking for illegal miners
A big problem in the modern cryptoindustry is the rejection of Blockchain or skepticism about this technology in many countries. Moreover, even some developed countries speak ambiguously about digital means. The US is among such skeptical states. The tax service has announced an operation to find miners who are dodging tax payments. We will tell you how such events will take place and what to fear for those who do not pay taxes. So, without further ado, let’s get started.
Operation Hidden Treasure
This is the code designation received by the campaign to find miners who evade tax on their own activities. The information comes from Forbes, which, in turn, cites the director of the Anti-Fraud Office. It is a separate structure within the United States that specializes in finding and punishing tax-free citizens. As part of the “Hidden Treasure”, the attention of specialists will switch to users of the cryptoindustry. And not only for miners, but also for investors, traders who do not give a percentage of the profits received as tax. For the effective conduct of the operation, close partnerships have been concluded with many private organizations.
Which will provide all the relevant data and help in detecting illegal users. The Director of the Anti-Fraud Office noted that he and his team “see every intruder.” Well, these are quite serious statements that alarming even those who regularly pay taxes. But if you are a decent taxpayer, you have nothing to worry about. Otherwise, if there are problems with the documents, read the following sections.
What should US users do?
First of all, immediately contact a specialist. While the operation has just begun, there is a high probability of being able to legalize their own incomes and thereby get out of the scope of legislation. This is the only sure way to avoid punishment. Only a competent lawyer can explain how difficult the situation is in your particular situation. So listen carefully to the words of your specialist. Henceforth, we recommend to work exclusively according to the “white” schemes. All sources of income and amounts received should be recorded in order to promptly provide the requested information in the event of repeated checks. After all, it is obvious that Operation Hidden Treasure is just the beginning of the strictest US policy towards cryptocurrencies.
The latter became known after the arrival of Joe Biden. Yes, his predecessor, Donald Trump, was also ambivalent about digital assets. But representatives of Biden’s team directly call BTC a “speculative asset”. Janet Yellen made similar statements earlier. She is one of the country’s leading economists and is currently the current United States Treasury Secretary. Let us also remind that certain figures in the cryptoindustry viewed Yellen’s appointment positively, which was supposed to support the Blockchain. But this did not happen.
The measures introduced are most likely explained by the intention of the United States to carry out repeated compensation payments in the near future. Recall that the money received from the state as compensation for the consequences of the coronavirus, many sent to the digital market. Thus, 600 dollars, invested from the first payments, today are estimated at 10 thousand. Of course, if the owner of the funds chose the cryptocurrency. The main thing in such a difficult situation is to stay abreast of current events from the cryptoindustry. Follow the latest news from the world of Blockchain and technology with us. We publish only high-quality, interesting material. Thanks for attention. Good luck!