4 ms·
> When the actual payment occurs we use the agreed upon index to use the dollar price, paid in crypto and this takes a few seconds to execute and even in the vo
by fennecfoxen 7y ago
> When the actual payment occurs we use the agreed upon index to use the dollar price, paid in crypto and this takes a few seconds to execute and even in the volatile crypto markets usually nothing is happening in this time frame.
Ah, so unlike the person using it for savings that you're replying to, you're basically just paying someone for the overhead of getting that money to a real bank account, through a novelty payment mechanism, to avoid regulators.
I mean, that's a step up, at least. Good luck with FATCA Mk II, Cryptocurrency Edition.
- rolltiide 7y agoits not really avoiding its just more convenient as the private sector itself has made it more difficult since they don't want the compliance burden of opening accounts for American signers we'll comply with any applicable regulation. if we have to start filing FBAR's for on-chain or off-chain custodial cryptocurrency holdings we'll do it, while also seeing if there is an applicable exemption, while also having our lawyers write to the Treasury during the comment period to suggest they not pursue this route