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How tho? How can i get my crypto into dollars without paying tax or using an offshore business that facilitates the tax evasion.
by dangerface 5y ago
How tho? How can i get my crypto into dollars without paying tax or using an offshore business that facilitates the tax evasion.
- pc86 5y agoYou're probably unlikely to have anyone knowledgeable lay out the exact means by which crypto can be used to evade income taxes, but it's a pretty well known that it's used that way.
- dangerface 5y agoThey setup a company in an offshore country like vanuatu and use an offshore bank to change the crypto into dollars avoiding capital gains tax etc, but its the offshore company and bank that facilitates the tax evasion. Just because every one thinks they know how it works doesn't mean they know how it works, thats why I am questioning it. The truth is its pretty well known how tax evasion works but it doesn't use crypto.
- joshmarlow 5y ago> it's a pretty well known that it's used that way. Michael Morell, a former acting director of the CIA, has some things to say about the use of BTC in crime: > Based on our research and discussions with industry experts, I have confidence in two conclusions: • The broad generalizations about the use of Bitcoin in illicit finance are significantly overstated. • The blockchain ledger on which Bitcoin transactions are recorded is an underutilized forensic tool that can be used more widely by law enforcement and the intelligence community to identify and disrupt illicit activities. Put simply, blockchain analysis is a highly effective crime fighting and intelligence gathering tool. Source: https://casebitcoin.com/story/former-cia-director-finds-bitcoins-use-in-illicit-finance-to-b https://casebitcoin.com/story/former-cia-director-finds-bitc...