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The Secret Affair Between Cryptocurrency And Companies

Cryptocurrency has recently become a popular endeavor because of its price rallies. Many large corporations like Tesla, MicroStrategy, and Square are adopting or investing in Cryptocurrency. These top companies openly announce and talk about their involvement in Cryptocurrency. Whereas, many companies are also working on building Blockchain or Cryptocurrency.

But there is more than meets the eyes. Yes, we are talking about the ones that prefer keeping themselves in a disguise shadow. The tricks that made the news during the events of the Panama Papers and Paradise Papers. These companies are similarly holding Cryptocurrencies secretly through various methods, techniques, and strategies in an attempt to not fall on the radar. Their theory works on placing Cryptocurrency investments without a shred of evidence on their company’s balance sheet.

Such scenarios give rise to the greys of black and white, resulting in questions and doubts. Why the need for subterfuge? How are the people involved in making this happen? How does it work? Are the board members aware? Is this legit?

In this blog, we are going to discuss, The Secret Affair Between Cryptocurrency And Companies

Cryptocurrencies like Bitcoin are popularly known for being a hedge against inflation, their potential debasement of fiat, and store of value. Everyone wants to have a piece of Cryptocurrency.

The corporate CFOs and Finance executives have been painstakingly working to find ways to acquire and allocate Cryptocurrency. Many firms unbeknownst to their shareholders have been accumulating Cryptocurrencies by trying not to attract regulatory scrutiny.

Also Read, 10 Public Companies With Huge Bitcoin Portfolios

These firms use the complex web offshore holding companies, trusts, or the web of corporate shell companies. This web of companies that hold the Crypto appears on a single-line entry in the accounting statements. Many make rare or no movements of their cold wallets, which makes it even more challenging to determine the wallet addresses controlled by the company. Thus, the arrangers of the Cryptocurrencies diligently ensure the provenance and transaction noise with the obfuscation tricks in a convoluted web manner. Many large companies use this method to manage tax exposure, which is later simply processed through various money laundering techniques like “smurfing”. Since Cryptocurrencies are pseudonymous, the above strategies makes it difficult or almost impossible to track or string the beneficial owner of the Cryptocurrency.

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Coinscapture is the best, real-time, high-quality cryptocurrency market data provider, by listing 3000+ cryptocurrency globally.

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Coinscapture

Coinscapture

Coinscapture is the best, real-time, high-quality cryptocurrency market data provider, by listing 2000+ cryptocurrency globally. https://coinscapture.com/

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