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Bitcoin already works for cheap international transfers. And no, my bank won’t give any details about my account and its transactions (unless I do something re
by atemerev 6y ago
Bitcoin already works for cheap international transfers.
And no, my bank won’t give any details about my account and its transactions (unless I do something really horrible), even to the national tax authorities (I live in Switzerland, where bank secrecy is still a thing, at least for the residents/citizens).
- vinay427 6y agoThis is generally true in Switzerland as you stated (with those exceptions for more serious issues) for residents, as Swiss citizenship is irrelevant. Anyone resident in any of a host of countries with which Switzerland has signed agreements can have their bank details shared with the country of residence. I suspect a fair amount of other countries have this discrepancy as well. Based on a brief online search it seems like the data on US checking/savings accounts of US residents are not shared with the IRS, for instance, unless a summons (which can be contested) is approved. I'm not sure what the difference is in practice.