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Pardon me, I wasn't clear. I am not advocating for tax fraud or illegality :) Self-sovereignty is a technical characteristic of blockchains where nobody can pr
by spir 6y ago
Pardon me, I wasn't clear. I am not advocating for tax fraud or illegality :)
Self-sovereignty is a technical characteristic of blockchains where nobody can prove you own a asset or did a transaction. That makes it hard to prove tax compliance or non-compliance.
To those who think Ethereum on-chain activity is merely pseudonymous and not private, you're correct, but only temporarily, because zero knowledge platforms are arriving and will enable many common financial activities to be performed in a truly private context.
- jayd16 6y agoIf it happened and you don't report it, that's fraud. It doesn't matter how easy it is to not report it. This would apply to any other regulation as well, not just taxes.