As the global economic system moves towards decentralized currencies, ensuring the protection of tax revenue...
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As the global economic system moves towards decentralized currencies, ensuring the protection of tax revenue becomes a significant concern for governments worldwide. Decentralized currencies, such as cryptocurrencies, present challenges for tax authorities due to their decentralized nature, pseudonymous transactions, and crossborder accessibility. Without proper mechanisms in place, there is a risk of tax evasion and revenue loss. Governments and tax authorities are exploring various strategies to address this issue, including regulatory frameworks, technological solutions, and international cooperation. Objective Question: In the context of protecting tax revenue in a global economic system shifting towards decentralized currencies, what approach focuses on enhancing international collaboration to address crossborder tax evasion and compliance challenges? A Implementing blockchain technology for transparent tax tracking B Establishing international taxation treaties C Increasing tax enforcement measures on digital transactions D Encouraging adoption of centralized digital currencies for taxation purposes 
As the global economic system moves towards decentralized currencies, ensuring the protection of tax revenue becomes a significant concern for governments worldwide. Decentralized currencies, such as cryptocurrencies, present challenges for tax authorities due to their decentralized nature, pseudonymous transactions, and crossborder accessibility. Without proper mechanisms in place, there is a risk of tax evasion and revenue loss. Governments and tax authorities are exploring various strategies to address this issue, including regulatory frameworks, technological solutions, and international cooperation.
Objective Question:
In the context of protecting tax revenue in a global economic system shifting towards decentralized currencies, what approach focuses on enhancing international collaboration to address crossborder tax evasion and compliance challenges?
A Implementing blockchain technology for transparent tax tracking
B Establishing international taxation treaties
C Increasing tax enforcement measures on digital transactions
D Encouraging adoption of centralized digital currencies for taxation purposes
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