Open Access. Powered by Scholars. Published by Universities.®
- Institution
- Publication Type
Articles 1 - 3 of 3
Full-Text Articles in Law
Revolution In Crime: How Cryptocurrencies Have Changed The Criminal Landscape, Igor Groysman
Revolution In Crime: How Cryptocurrencies Have Changed The Criminal Landscape, Igor Groysman
Student Theses
This thesis will examine the ways in which various cryptocurrencies have impacted certain traditional crimes. While crime is always evolving with technology, cryptocurrencies are a game changer in that they provide anonymous and decentralized payment systems which, while they can be tracked in a reactive sense via the blockchain, are seen by criminals as having better uses for them than traditional fiat currencies, such as the ability to send money relatively fast to another party without going through an intermediary, or the ability to obscure the origin of the money for money laundering purposes. Every week there are new cryptocurrencies …
The Tao Of The Dao: Taxing An Entity That Lives On A Blockchain, David J. Shakow
The Tao Of The Dao: Taxing An Entity That Lives On A Blockchain, David J. Shakow
All Faculty Scholarship
In this report, Shakow explains how a decentralized autonomous organization functions and interacts with the U.S. tax system and presents the many tax issues that these structures raise. The possibility of using smart contracts to allow an entity to operate totally autonomously on a blockchain platform seems attractive. However, little thought has been given to how such an entity can comply with the requirements of a tax system. The DAO, the first major attempt to create such an organization, failed because of a programming error. If successful examples proliferate in the future, tax authorities will face significant problems in getting …
Tax Compliance In A Decentralizing Economy, Manoj Viswanathan
Tax Compliance In A Decentralizing Economy, Manoj Viswanathan
Georgia State University Law Review
Tax compliance in the United States has long relied on information from centralized intermediaries—the financial institutions,employers, and brokers that help ensure income is reported and taxes are paid. Yet while the IRS remains tied to these centralized entities,consumers and businesses are not. New technologies, such as sharing economy platforms (companies such as Airbnb, Uber, and Instacart)and the blockchain (the platform on which various cryptocurrencies are based) are providing new, decentralized options for exchanging goods and services.
Without legislative and agency intervention, these technologies pose a critical threat to the reporting system underlying domestic and international tax compliance. Until now, legal …