Tax authorities are getting more interested in your cryptocurrency

BITCOIN, Ripple, ethereum and other cryptocurrencies have grabbed the attention of tax authorities across the globe as anonymous traders benefit from massive profits from the virtual currency boom, according to a leading expert

Bitcoin plummeted in price after reports emerged South Korea was ready to strip traders of their anonymity by banning secretive crypto traders from operating in the country.

Dr Garrick Hileman, who has advised the CIA and US army on cryptocurrencies, has now warned would-be bitcoin, cryptocurrency investors that 2018 will be the year of a taxation crackdown on cryptocurrency profits.

Speaking to Express.co.uk, at London Blockchain Week, Dr Hileman said: “From a regulatory perspective, we are seeing growing interest from tax authorities