5 ms·
They could still obscure its source and exchange it for cash.
by piracy1 9y ago
They could still obscure its source and exchange it for cash.
- ceejayoz 9y agoObscuring the source won't help if the IRS knows "John Doe at least once controlled the Bitcoins at address foo". At that point, they'll assume you still control them unless you can prove otherwise.
- GeorgeDewar 9y agoUnless the money came from an illicit source (I don't think the source was stated, but making a ton of money from Bitcoin's rise is perfectly legitimate), cashing out would surely be perfectly legitimate as long as one paid the right taxes, which there would hardly be a reason not to.