5 Countries Launch Tax Alliance to Fight Crypto Threat

July 6, 2018

As press release said, The US Internal Revenue Service (IRS) has launched international task group along with tax agencies from four other countries to prevent crimes involving cryptocurrencies.

The new coalition named ‘The Joint Chiefs of Global Tax Enforcement’ or ‘J5’ includes law enforcement agencies of five countries: Australia, Canada, the Netherlands, the UK and the USA.

In the framework of J5 the agencies are going to collaborate in surveillance and crime investigations to eliminate the growing threat created by cryptocurrencies and cybercrime as well as to fight transnational tax crimes and money laundering.

Don Fort, the chief of the Internal Revenue Service-Criminal Investigation (IRS-CI), which will work together with IRS under J5, has told, multilateral efforts may produce strong pressure upon global criminal community which was impossible when acting independently.

To handle problems with tracing anonymous crypto transactions IRS has long been investigating crypto crimes enabling blockchain surveillance means like Chainalysis.

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