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It reads like the textbook description of a scam. All one is left wondering is how they ever thought they'd get away with it, and maybe how people will claim th
by IfOnlyYouKnew 5y ago
It reads like the textbook description of a scam. All one is left wondering is how they ever thought they'd get away with it, and maybe how people will claim this is the SEC "just not getting" technology and/or trying suppress competition to USD.
- jl2718 5y agoI’m usually that guy. I applaud this action as a tiny step in roughly the right direction. If defi users are paying taxes on risky profits, they deserve total protection from fraudulent losses. The tax code is already massively asymmetric (unlimited tax on gains, $3000 max loss deduction). Personally I don’t think comprehensive fraud enforcement is possible or efficient, and a risk-friendly tax code (lifetime profit/loss) would probably make more sense. But still, this is better than nothing.