透明度如何影响税务政策的有效性：来自数字货币价格差异的实证
发布时间：2025-07-02
7月
04
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时间和日期
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2025-07-04 (星期五) 01:30 上午
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12:00 下午
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| 标题: | 透明度如何影响税务政策的有效性：来自数字货币价格差异的实证 |
| 日期和时间: |
2025年7月4日（周五） 10:30-12:00 |
| 地点 | 综合教学楼D202阶梯教室 |
| 主讲人: |
唐薇教授 乔治城大学 |
| 摘要: | This study examines how transparency influences the effectiveness of tax policies in cryptocurrency markets. Using a regulatory event study and cross-sectional analysis, we find that greater tax reporting transparency amplifies the capitalization of statutory crypto-tax liabilities into prices, resulting in lower cryptocurrency prices in markets where tax authorities have access to traders' identities and holdings. First, within the United States, we document an average 0.34% discount in Bitcoin prices following announcements that increase market expectations that an exchange will be required to share trader information with tax authorities. Second, across jurisdictions, price declines are more pronounced in countries with more transparent crypto-tax reporting systems when statutory income tax liabilities increase. Third, after controlling for barriers to cross-border arbitrage, cross-exchange variations in tax reporting transparency amplify the extent to which price disparities reflect jurisdictional variations in statutory crypto-tax liabilities. Interestingly, this study also documents that cryptocurrency prices respond more strongly to tax policies when Know-Your-Customer (KYC) policies—designed to verify identities and combat financial crime—are in place. This interplay between KYC regulations and tax policies highlights the need for coordinated oversight as the cryptocurrency market transitions from unregulated to increasingly more regulated environments. |
| 主讲人简介: | Vicki Wei Tang的学术领域是会计和公司金融。她毕业于密歇根大学，并于2005年加入乔治城大学。她在三大顶级会计期刊上均有发表，并在多个著名学术会议上获得最佳论文奖。她近期的研究兴趣包括人工智能对商业运营和投资的影响、使用社交媒体信息进行投资决策、加密货币的税收与定价、虚假信息对资本市场的影响、财务报告质量以及中国资本市场。她还担任美中商会青年领导力主席，并获得了国家级Deloitte Fellowship和Eisenhower Foundation的国际领导力奖。 |
