J5, Joint Chiefs of Global Tax Enforcement Provides Cryptocurrency Risks Indicators to Financial Companies
J5, a global tax group, has made a public warning to the financial companies that are involved in cryptocurrency, for them to be watchful of the risk indicators in cryptocurrency industry; in order to control activities that are unlawful.
In the cryptocurrency industry, J5 the Joint Chiefs of Global Tax Enforcement has noted 5 risks indicators that are mostly related to cryptos. These 5 indicators were built by an advanced group of cryptocurrency experts from different parts of the world.
The 5 biggest taxation companies in the globe, come together to form J5; so as to fight against crimes all around the globe related to finance. J5 is made up of the Canadian Revenue Agency, United Kingdom's HMRC, the United States IRS, Fiscal Information and Investigation Service, and the Australian Taxation Office.
The 5 cryptocurrency risk indicators noted by J5 are: ransomware attacks, high risk counterparties, cryptocurrency asset layering, unidentified transaction receiver, and geographical risk indicators.