BITCOIN AND TAX EVASION: ARE THE POSSIBILITIES OVERSTATED?

NEW YORK (InsideBitcoins) – The topic of tax evasion seems to be one of those subjects that creates a split in the bitcoin community. The early adopters, who are mostly libertarians and anarchists, tend to believe that people will definitely use bitcoin to evade taxes and launder money, while the new breed of venture capitalists tend to claim that bitcoin can be regulated and won’t turn into some kind of cypherpunk fantasy. This topic was recently discussed in an episode of the a16z podcast, which is released by Andreessen Horowitz.
The most recent episode of the a16z podcast was actually taken from a live event, which included a panel discussion between Princeton’s Edward Felten, Johns Hopkins University’s Matthew Green, and Andreessen Horowitz’s Chris Dixon. A question related to bitcoin’s use for tax evasion came in from the audience, and each panelist gave their own opinion on what bitcoin means for tax collection by governments all over the world.
Large companies cannot get away with tax evasion

This post was published at Inside Bitcoins on Oct 28, 2014.