Chainalysis: Tax evaders are attempting to use "new digital assets" to evade tax authorities.

CoinFeed reported on May 21 that, according to Cointelegraph, Chainalysis released a report stating that tax evaders are turning to emerging digital assets such as Bitcoin Ordinals and BRC-20 tokens to evade tax authorities. Italian financial police have cracked a related case where suspects used the Ordinals protocol and the BRC-20 standard to generate tokens and sell them on the market, hiding approximately $1.1 million in undeclared capital gains. Chainalysis points out that using cryptocurrencies to evade taxes has a "fatal flaw": the inherent transparency of blockchain leaves a permanent and immutable trace. No matter how complex the tax evasion scheme, blockchain intelligence can reconstruct the financial network and cross-reference it with exchange report data to uncover related transactions.