4 ms·
I am skeptical of this because if they just wanted to raise revenue at the expense of privacy there are a lot easier ways to do it. They could make FBAR apply
by from 4y ago
I am skeptical of this because if they just wanted to raise revenue at the expense of privacy there are a lot easier ways to do it. They could make FBAR apply domestically. Or just require banks report checks and wires over 50k. Banning Tornado Cash is a kind of decision made by self styled counterproliferation/illicit finance/terror finance/anti corruption "experts."
- JumpCrisscross 4y ago> require banks report checks and wires over 50k There is no reporting requirement, but a record-keeping one [1]. [1] https://www.fincen.gov/sites/default/files/shared/bsa_quickrefguide.pdf https://www.fincen.gov/sites/default/files/shared/bsa_quickr...
- from 4y agoYes but this is really only useful for them after they already discovered a target of investigation. Having this information for everyone would make the initial detection of tax evaders substantially easier.
- JumpCrisscross 4y ago> this information for everyone would make the initial detection of tax evaders substantially easier The IRS and FinCEN don’t systematically share information. (Ironically, the IRS is more restricted in this respect [1].) [1] https://www.irs.gov/irm/part4/irm_04-026-008 https://www.irs.gov/irm/part4/irm_04-026-008