IMF Says AML Rules Alone Can't Stop Bitcoin Tax Evasion

The International Monetary Fund (IMF) published a paper stating that while anti-money laundering (AML) rules are not a complete solution, they are a logical starting point for addressing tax evasion and criminal activity in the crypto space. The paper highlights the potential for billions of dollars in tax revenue and emphasizes the need for global consensus on how to approach the issue. The authors suggest that governments can look to regulations and laws in the US as a guide, and that applying AML rules and third-party reporting requirements is the first step for governments to take.