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Venmo moves dollars and crypto does not Country A: person uses government regulated exchange/on-ramp to acquire crypto or mines it. Country B: person receives
by no_yoo 3y ago
Venmo moves dollars and crypto does not
Country A: person uses government regulated exchange/on-ramp to acquire crypto or mines it.
Country B: person receives crypto and trades it for local currency using a government regulated exchange
Which specific laws or regulations are being broken from which specific countries?
- maxerickson 3y agoThe fantasy is that country A (or B) isn't going to regulate the currency. It doesn't work to tell the government that it isn't currency, they will just patiently explain to you that they decide that.
- no_yoo 3y agoIf the US wants to classify it as currency I would be happy to not have to pay the capital gains taxes
- lern_too_spel 3y agoYou also cannot transfer nonmonetary assets cross border without following regulations. Why do you think you have to declare at customs? https://www.congress.gov/bill/115th-congress/senate-bill/1241/text#toc-idea0e9489fc8f46379f95bb56c8bbbda5 https://www.congress.gov/bill/115th-congress/senate-bill/124... Did you really think that getting around money laundering laws is as easy as converting to nonmonetary assets before transfer?
- ryan_lane 3y agoYou have to pay capital gains when buying and selling between real currencies, you know, right?
- X6S1x6Okd1st 3y agoWhat jurisdiction are you talking about?