The Israeli Tax Authority (ITA) is cracking down on cryptocurrency tax evaders, and has reportedly issued warnings to hundreds of Israeli crypto enthusiasts.
Per Israeli news outlet Calcalist, the ITA has unilaterally opened tax accounts for hundreds of Israelis identified as having cryptocurrency-related revenues.
The report says that it has identified individuals it suspects of failing to report their earnings, and quotes an unnamed official familiar with the matter as stating that citizens who travel abroad frequently without having the requisite funds on paper, or those who own over three apartments have been sent warning letters.