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Top UK Tax Official 'Concerned' About Cryptocurrencies

Law360 (April 17, 2018, 5:57 PM EDT) -- A top U.K. tax official said Tuesday that he is worried about cryptocurrencies such as bitcoin being an avenue for tax fraud, though he said there aren’t significant tax risks for now.

The comments from David Richardson, interim director general for customer strategy and tax design at Her Majesty’s Revenue and Customs, come as regulators globally face the challenge of bitcoin and other cryptocurrencies as a possible source of financial instability in need of closer supervision.

“Cryptocurrencies like bitcoin are obviously another new development," Richardson said...
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