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> But to me what is wild about this case is that the Justice Department is bringing down the full weight of US federal criminal law to protect Ethereum front-ru
by TacticalCoder 2y ago
> But to me what is wild about this case is that the Justice Department is bringing down the full weight of US federal criminal law to protect Ethereum front-running bots.
What is surprising about that? The US tax man is making shitload of money happily taxing gains US citizens are making on cryptocurrencies. Not to mention businesses like Coinbase and Circle that are not only paying their taxes in the US but are also, at times, buying a lot of US government debt. The US government is, literally, indebted to these companies and functioning partly thanks to the taxes paid by crypto holders.
You cannot have your cake and eat it too: if you want to collect taxes, you take care of the bad actors. If you want Coinbase to operate in Dubai and all crypto-related companies in the US to move to the UAE or Switzerland, you outlaw crypto altogether in the US once and for all.
But then you don't come crying from the taxpayers dollars you don't get.
- mavelikara 2y agoThere is plenty of commerce happening in Dubai/UAE and Switzerland that US does not collect taxes on. I have never heard anyone complain about missing out on those. Only if US tax residents are involved in the commerce does the US care. IRS will find a way to tax the commerce if US tax residents are involved, irrespective of where the crypto-related companies are located.