The era of ‘suitcase money’ is over: Why your offshore crypto is no longer safe from the taxman

The era of what many have dubbed 'suitcase money'—the practice of discreetly holding large sums of cash or assets in foreign accounts without reporting them to tax authorities—has come to an end. This shift raises significant concerns for individuals who have utilized offshore cryptocurrencies as a means to evade taxation. With increasing scrutiny and regulatory measures being implemented globally, it has become clear that your offshore crypto holdings are no longer immune to the watchful eyes of tax authorities. This article will explore the reasons behind this transformation, the implications for investors, and the evolving landscape of cryptocurrency regulations that make it imperative for individuals to reconsider their strategies in managing offshore assets. source: https://www.coindesk.com/business/2026/02/01/the-era-of-suitcase-money-is-over-why-your-offshore-crypto-is-no-longer-safe-from-the-taxman