Crypto as `next Swiss bank account' sends governments scrambling

The Mariner of the Seas cruise ship, host to the Coinsbank Blockchain Cruise Asia, sits off Paradise Beach in Phuket, Thailand on Jan 17. The use of virtual money to store assets offshore is evolving rapidly, with the introduction of so-called privacy coins, such as ZCash and Monero, which use methods like encryption to make them untraceable. - Bloomberg

NEW YORK: Authorities around the world worry that cryptocurrencies could become tax havens.

Too late. It’s already happening.