The Crimes of Tax Fraud and Money Laundering and Their Relationship With Cryptocurrencies
Year: 2024
Type: article
Abstract: The main objective of this work is to approach the current regulations in Mexico that allow for the regulation and identification of operations carried out with cryptocurrencies and, at the same time, to prosecute tax fraud and money laundering crimes. Through a thorough analysis of current legislation, the aim is to answer the question: Does our legal framework adequately regulate the prosecution of money laundering and tax fraud when operations are conducted using crypto assets or virtual assets? Cryptocurrencies, also known as virtual assets, have gained popularity in recent years due to their ease of use, security, and the speed at which transactions can be conducted. However, their apparent anonymity and lack of regulation have made them an ideal means to commit financial crimes such as money laundering and tax fraud. Current Mexican legislation does not seem prepared to face this new challenge. Although there are laws that seek to regulate operations with cryptocurrencies, they remain insufficient to effectively identify and prosecute financial crimes committed through their use. Through this study, the aim is to contribute to the legal debate on how to adapt our laws to new financial technologies. Furthermore, concrete proposals are expected to be offered to improve cryptocurrency regulation in Mexico, with the goal of preventing and prosecuting money laundering and tax fraud. In conclusion, this work provides an overview of the issues surrounding the use of cryptocurrencies in illicit activities and highlights the need to reform our legislation to effectively respond to this new reality.
Source: Figshare
Author: Nieto Olvera, Pedro David
Language: English
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6977218592
FWCI:
Cites:
Cited by:
Related to: