In the clips, a grandiloquent Tate, clad in a turquoise sweater, proudly details how he used bitcoin to swindle unwitting sex workers and cheat the tax man., told CoinDesk that Tate is currently not facing any tax evasion charges.
“There is no allegation against him on tax evasion,” Vidineac told CoinDesk. “That's not on the list of charges.”, the former kickboxer claims he made $600,000 monthly from a lucrative online webcam business that employed 75 sex workers globally. In the video posted by Rivers, Tate seems to describe how to use bitcoin to bypass the traditional banking system and evade taxes by taking advantage of Chaturbate – an adult webcam platform with an option for bitcoin payouts to performers.
It’s not clear if Tate was suggesting he believed bitcoin payments were non-taxable, or that the largest cryptocurrency was useful for avoiding taxation on income. “You're getting paid in bitcoin so you don't need to pay tax to anybody,” Tate said. His comments point to an inescapable reality that global financial authorities have taken pains to emphasize – that while bitcoin might be one of the great technological innovations of our time, it’s not above the law, and income payments received in BTC are clearly taxable in most jurisdictions.
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