Overview
Law360 quoted Lisa Zarlenga in a March 28 article titled "Blockchain Havens Could be Next Global Tax Challenge." The article discusses how many countries that formerly marketed themselves as tax havens are now looking to become hubs of blockchain, the online ledger system used to record cryptocurrencies. According to the article, the rise of blockchain havens is, in part, a reaction to increased enforcement of new taxation and financial secrecy rules, which have made tax havens less attractive.
Zarlenga says: "When we’re dealing with clients who want to comply with US regulations, we're seeing a lot of them set up shop in these countries. There's certainty and there’s favorability."
The full article can be read at Law360 (subscription required).
