You knew it was coming! Digital assets, including cryptocurrencies and nonfungible tokens, are likely to be subject to new regulations soon. The Joint Chiefs of Global Tax Enforcement currently is exploring ways to prevent digital asset-based tax crimes and money laundering. Proposed solutions include intelligence-sharing and coordinated investigation and enforcement actions. Meanwhile, the U.S. Financial Stability Oversight Council (FSOC) is raising the alarm about fraud and volatility associated with these assets. Treasury Secretary Yellen recently told a U.S. Senate committee that “increased and coordinated regulatory attention” is needed. Read the FSOC’s report: https://bit.ly/3w3821a
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