The HM Revenue and Customs (HMRC) is proposing new regulations that would allow them to take cryptocurrencies from companies that do not pay their crypto taxes. The UK government is considering suggestions to modernize tax collection in the digital era, which includes giving the tax agency the ability to access online wallets. The HMRC is contemplating expanding its capability to include online payment accounts such as PayPal and cryptocurrency wallets of companies. This move would be seen as the next "crackdown" on a sector that has been accused of facilitating illegal behavior and money laundering.
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