Chainalysis: Tax evaders are using bitcoin Ordinals and BRC-20 to avoid taxes

According to Cointelegraph, a Chainalysis report indicates that tax evaders are using emerging digital assets such as Bitcoin Ordinals and BRC-20 tokens to bypass tax obligations. The Italian financial police have uncovered a case in which suspects generated and sold tokens using the Ordinals protocol and BRC-20 standard, concealing approximately $1.1 million in unreported capital gains. Chainalysis points out that the transparency of blockchain leaves a permanent record of tax evasion, which can be exposed through intelligence analysis and cross-referencing exchange data.