The rapid rise and mainstream adoption of crypto-assets has
created opportunities for intrepid entrepreneurs and investors to
create a new vision for money, markets and the internet at-large
that is decentralized, democratized and trustless. However, as with
any period of significant disruption, the legal landscape has
trailed the pace of innovation, creating significant risks for
abuse and illicit activity. When it comes to crypto-assets, one
area of particular concern for governments is the difficulty in
ensuring that all applicable taxes with respect to crypto-asset
transactions are being correctly reported (and paid) due to the
inherent decentralized design of blockchain technology.
