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New crypto laws to tackle tax evasion

New cryptocurrency laws could help clamp down on tax evasion.

Treasury Minister Alex Allinson will ask Tynwald to prove new regulations covering cypto assets when the court sits in December.

The new rules, set up by the OECD, would allow information about crypto holdings and transfers to be exchanged between tax authorities.

The government says the regulations will tackle tax evasion and maintain transparency.

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