3 ms·
Sure, your coins are where the government can's touch them. But if you do not comply with the IRS reporting rules and your body is where the government can touc
by jackfoxy 6y ago
Sure, your coins are where the government can's touch them. But if you do not comply with the IRS reporting rules and your body is where the government can touch you, watch out.
But you're right. If USG does go down this path of crypto suppression (and this is pure speculation at this point) US based exchanges are vulnerable first.
I imagine nothing like this would unfold without coordination with the EU and five eyes.
- andrewjl 6y agoTax enforcement prioritization roughly follows the shape of wealth/income distribution. Focusing on the long-tail isn't impactful, as far as fiscal concerns go. You'd achieve about the same result tax wise w/ muscular KYC/AML requirements for crypto exchanges/custodians in the US as you would w/ a ban.