The US IRS will track transactions using Coinbase Analytics tools
Автор: FOUNDICO - WORLD INVESTMENT NEWS CHANNEL - ENGLISH
Загружено: 2020-07-23
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The us tax service (IRS) has signed a contract with the cryptocurrency exchange Coinbase to use the analytical tools Coinbase Analytics to track cryptocurrency transactions.
The agreement will enter into force on July 23, 2020. It will be valid for a year, after which the contract can be extended. The annual fee for using Coinbase tools will be $124,950. Earlier it was reported that the Coinbase exchange has already considered the IRS and the drug enforcement Administration (DEA) as potential clients interested in the exchange's software for blockchain Analytics. The IRS announced its intention to use Coinbase Analytics last month.
According to the Agency, Coinbase tools allow you to analyze and track transactions with crypto assets in different blockchains, which are often used by criminals. The IRS believes that Coinbase Analytics has the functionality to effectively monitor compliance with laws.
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