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UK Tax Agency to Pay $100k for Blockchain Surveillance Software

On January 17, the UK tax agency Her Majesty’s Revenue and Customs (HMRC) published a job opportunity for a private contractor to design a cryptocurrency blockchain analysis tool. According to the listing, the contract is for one year and HMRC will pay the contractor $100,000 for software that can “identify and cluster crypto asset transactions.”

Also read: Britain’s Tax Authority Updates Crypto Guidelines

HMRC Wants a Blockchain Analysis Tool and Is Willing to Pay $100,000

Governments worldwide have been cracking down on cryptocurrency holders in order to make sure they are paying taxes. In the U.S., the country’s tax agency the IRS has initiated a broad stroke of tax enforcement against people who may own or at one time possessed cryptos. In the United Kingdom, HMRC has been following a similar path as the tax entity issued guidance for individual cryptocurrency holders in 2018 and then published more guidelines for businesses on November 1, 2019. HMRC’s updated crypto rules highlight the fact that they believe “individuals residing in the UK should file their tax obligations.” Despite the new guidelines toward cryptocurrency use, the tax authority’s rules are still not clearly defined and people still don’t understand their tax obligations. Nevertheless, just like the IRS and its confusing guidelines, HMRC plans to crackdown on tax evaders anyway.

UK Tax Agency to Pay $100K for Blockchain Surveillance Software

On Friday, a representative from England published an advertisement for HMRC looking for a software engineer to build a blockchain surveillance tool. According to the employment listing, the contractor can work from “any region” remotely. The contract runs from January 2020 to February 2021 and the value of the contract is $100,000. However, a group of voluntary, community and social enterprise (VCSE) contractors cannot apply. Small to medium enterprises

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