Sentences with phrase «fraudulent activities financed»
Some governments feel that crypto will pave the way for an increase in money laundering and other fraudulent activities financed by digital currency.
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Fraudulent activities can range from the transfer of assets to another company that a shareholder owns, or misrepresentation of financials to lenders to obtain financing.
The ministry of finance stated that the new regulations would reduce the risk of fraudulent activity and help create a more stable system for cryptocurrency taxation.