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He's offering not to tell the IRS though, what's a little tax fraud between friends?
by kevingadd 5y ago
He's offering not to tell the IRS though, what's a little tax fraud between friends?
- DennisP 5y agoIt's not like Compound is able to do KYC on its users. There's nothing they can tell the IRS that the IRS can't see by just looking at the blockchain.
- yokem55 5y agoNo, but most folks have addresses (with maybe one or 2 degrees of separation) that have interacted with centralized exchanges that have done the kyc. The only way to truly anonymously get assets in the Ethereum world is to run the funds through tornado cash (slow and expensive) or bounce through the shadiest non-kyc exchanges who very well could just pocket the funds you try to put through them. You might be able to mine your way to anonymous funds, but that is even more expensive in terms of power and equipment costs.
- DennisP 5y agoYes, but my point is that any information Compound could give the IRS is already public on chain. The IRS can just read it themselves.