Spanish Tax Authority Wants Crypto Trading Data
Spain’s tax regulator, Agencia Estatal de Administración Tributaria (AEAT), has issued 60 formal requests to cryptocurrency entities including banks, cryptocurrency exchanges, securities firms and crypto-accepting businesses seeking private customer data, such as identification documents, bank details, payment card information, cryptocurrency trading data and more.
The information is being used as part of an investigation across the cryptocurrency industry to decide if new control procedures are required. Authorities are concerned that some customers are using crypto to launder money and other types of criminal activities. Furthermore, the tax agency also sees this as an opportunity to collect more taxes.
India, Pakistan Central Banks Crack Down On Crypto
India’s central bank, MUMBAI, warned banks on Friday from having any connections to virtual currency dealers. The Reserve Bank of India (RBI) said on Thursday that entities under its regulation are not allowed to deal with any virtual currencies.
In a separate statement on Friday, Pakistan’s central bank told banks and other financial services providers to refuse customers seeking cryptocurrency transactions, adding that cryptocurrencies are illegal in the country and using crypto to transfer funds outside Pakistan could lead to prosecution.