Bitcoin fell more than 1% to $23,000 – India urges G20 to use cryptocurrencies under AEOI to reduce global tax evasion

The price of Bitcoin fell by 1.17% this morning (July 22), moving at $23,182.86.

Bitcoin’s downward movement this morning came after the Dow Jones Industrial Average gained 162 points on Thursday (July 21).

  • The Dow Jones Industrial Average rose 162.06 points, or 0.51%, to close at 32,036.90 points.
  • The S&P 500 rose 39.05 points, or 0.99%, to close at 3,998.95.
  • The Nasdaq rose 161.96 points, or 1.36%, at 12,059.61 points.

India’s finance minister is urging the G20 to include cryptocurrencies in the Automatic Exchange of Information framework. She points out that over 100 countries are going to implement the Common Reporting Standard to reduce global tax evasion.

The Indian Ministry of Finance said that Indian finance ministers discussed crypto issues at the G20 ministerial meeting on taxation and development in Bali.

“The Automatic Exchange of Information framework provides for financial account information to various jurisdictions, tax evaders, being smart, explore other avenues to shift their unaccounted wealth through investment in non-financial assets. While the development of the crypto asset reporting framework is underway, I call upon the G20 to examine the feasibility of an Automatic Exchange of Information in respect of other non-financial assets beyond those covered under the CRS like immovable properties as well.”

Indian Finance Minister Nirmala Sitharaman said.

The AEOI aims to reduce tax avoidance worldwide. The CRS is an information standard for the AEOI that was developed by the G20 requirements and approved by the Organization for Economic Cooperation and Development (OECD) in July 2014.

The Spot Market is Open

Friday, July 22, 2022

Crypto
Updated at
USD
Price

Change

%Change
11.35 BTC22,908.77+208.30+0.92
11.35 ETH1,564.08+64.06+4.27
11.35 LTC57.63+1.51+2.69
11.35 BNB264.23+5.46+2.11
11.35 XRP0.36+0.01+2.80
11.35 ADA0.49+0.01+2.67
11.35 DOT7.43+0.06+0.84
11.35 DOGE0.07+0.00+1.30
11.35 UNI7.13+0.17+2.39
11.35 LINK6.97+0.09+1.26

Leave a Reply

Change Language
%d bloggers like this: