Israeli Tax Authority to Receive Customer Information from Bits of Gold

[kreslik.news]

The Israeli Tax Authority continues to hunt for money laundering activity via cryptocurrencies by coming to an agreement with cryptocurrency exchange Bits of Gold, according to local news source Calcalist.

Under the terms of the agreement, the firm must give the Israel Money Laundering and Terror Financing Prohibition Authority access to the data of customers that make more than $50,000 in 12 months.

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As the agreement stands, the data may not necessarily be transferred to the tax authority because of complex laws protecting customer privacy.

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