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Crypto assets are illegal if you try to dodge taxes. Or, as a trading institution, pretend that you have no duty to follow tax laws on reporting client transact
by afterburner 3y ago
Crypto assets are illegal if you try to dodge taxes. Or, as a trading institution, pretend that you have no duty to follow tax laws on reporting client transactions. They're no different than equities if you follow all the laws.
This all seems weird to me in Canada. Here, it's been acknowledged for years that crypto = equities.
Fraud is illegal either way though.
- legitster 3y agoThe tax thing is overrated. Equities have to be traded through a brokerage and that's the real death knell for crypto. If your dream is to be able to buy a pizza with bitcoin, having to do the transaction via your respective brokerages would not work.
- afterburner 3y agoThat dream has been dead for years. BTC is all about investment now.
- DennisP 3y agoThat's more true for bitcoin than for some other projects, but even bitcoin has the Lightning Network which they're attempting to use for payments using BTC.