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Bitcoin companies will begin to inform the Treasury about investors | Technology

Cryptocurrency operations will begin to be more controlled and the selling companies will have to share information about these activities.

At the moment, what has had to do with cryptocurrencies seems to have been located in a limbo difficult to control, But with the rise of bitcoin and other alternatives, everyone is putting the batteries together and they will begin to regulate activities and change the way they declare.

Avoiding fraud and controlling bitcoin investments seems like a challenge, but Regulations are prepared in order to regulate these activities by the Treasury, as reported in the Basque Chronicle. In order to achieve this, cryptocurrency companies must share more information about their movements.

Today these companies they usually register transfers that involve an amount greater than a thousand euros and are associated with the DNI of users, but the idea is to extend this control as much as possible and to have more detailed access to the information that cryptocurrency platforms have.

Everyone talks about cryptocurrencies but … do they really contribute something, beyond their status as a commodity to speculate? Let’s see what they are used for.

This can be a major change because the obligation to report earnings with bitcoin is often discussed. as if they were investments in other countries. The proposal being handled is to change the paradigm so that there is greater control that avoids opacity and redirects the situation.

According to the Basque Chronicle, “The companies that sell these currencies, essentially bitcoin, They are already collecting this data, although, at the moment they do not share it directly with the TreasuryBut when the legislation in which they work is approved, they will have to share it by default and the volume of people who trade with cryptocurrencies will be known.

More and more people are approaching cryptocurrencies attracted by the possibility of investing in them, although it is also a business where fraud is common and pyramid scams are suffered due to the impossibility of controlling businesses that occur without the State monitoring them.

In any case, no one will be surprised by a change that forces selling companies to share information on investors, even more so when there are already Spanish banks that allow trading with bitcoin. It is a booming activity that will be increasingly assimilated by different countries.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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