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On June 7, European Union’s Special Committee on Financial Crimes, Tax Evasion and Tax Avoidance (TAX3) members participated in a workshop on "Taxation and fight against Money Laundering: Crypto Currencies, Digitalization and the European Semester."
At the workshop Professor Robby Houben presented the legal context of virtual currencies and blockchain and mapped the implications for financial crime, money laundering and tax evasion, including against the backdrop of the newly adopted[2] EU Anti-money laundering legislation.
He explained that newer and proposed cryptocurrency implementations such as Cloakcoin, Dash, PIVX and Zcoin have built in mixing services as a part of their blockchain network. The Monero cryptocurrency provides anonymity without tumbling services due to its privacy centric design, utilizing ring signatures to keep the entire blockchain secure and untraceable. He pointed to the need for adopting crypto regulations at an EU and maybe even at a G-20 level to have mixing services recognized as money-laundering and tax evasion indicators, with users of mixing services assumed to be guilty of these offenses.
The power to levy taxes, including cryptocurrency taxes, is central to the sovereignty
