Recent content by khinkali

That's what they want. "Unhosted" wallets are "bad". But it varies by blockchain. You can send BTC from your wallet to another party avoiding the tainted part (like sending some diamonds from a mixed bag). But with ETH that is much harder as the balance is mixed (like part of the oil in a...

This could get messy for financial institutions to implement as wallets receive from multiple sources that receive from multiple sources, etc. What % of transactions from mixers would pass the threshold? Or what % of value? How many transaction to look back? This is typical of US lawmaking...

It is getting harder for fungible tokens and the choices are getting more limited. A few days ago the Government of Armenia approved a bill "exclusively introducing non-cash transactions for crypto asset operations", whatever that means. Also the Central Bank of Armenia is going to propose...

I think that "license" is being used in different contexts in the same conversation, and I am wary about that. Getting a license from DED for an unregulated business activity is very different from being regulated by VARA. I would be interested to know if DED have any experience when it comes...

I'm not a local. Just a tourist who's hung around for a few years. I'll DM you in the morning about providers here, but keep in mind that while I've discussed making a corporation I chose not to so far. I'll need to do something soon, but so far I've not taken the corporate route as Georgia...

I try to be careful with the word "license". I think you're referring to "business activity" as opposed to regulated activities and to quote the Ministry of Economy "There are six types of licenses, namely industrial license, commercial license, crafts license, tourism license, agricultural...

VARA mostly gets involved with regulated activities such as custody or trading signals for third parties. This gets quite expensive and time consuming. It would be surprising if trading on exchanges with your own personal funds would be a regulated activity. Meanwhile "proprietary trading in...

@cardholder no, I've had meetings with a few providers and worked with a couple. I don't have any experience of operating a company here, just getting buy as a natural person with exempt income.

Companies House is OK. Company creation is a breeze. It's HMRC who can be a nightmare. They even planned to close their self-assessment phone hotline for a six month per year "summer break", reduce the VAT hotline to 5 days per month and entirely refuse any calls relating to PAYE refunds. It...

100%. Tax residency somewhere else is not always required and doesn't always get you off the hook. Not all tax residencies are equal, especially HNW schemes that don't always carry the same weight. We should be very careful about concepts such as "less than 183 days" unless talking about a...

@yngmind I agree completely. It's not just the tax rates that affect peoples decision to leave (or not do business in) a country. It's also the red tape, inefficient bureaucracy, etc.

It's fear of huge penalties, criminal prosecution or having access removed by other institutions. The latter can be worst, as each link in the chain has to over-react a bit out of fear that the link above will ditch them. Now, it's sanctions evasion. Effectively secondary sanctions, along the...

@alabama my question was whether you've looked into KYC requirements as that is likely to drive your solution. Depending on the provider, diligence can involve UBO and place of management and/or control, not just where some corporation is registered. I remember someone on OCT saying they'd...

This varies wildly depending on the country. We should clear up some assertions made about the UK though. If you acquired the crypto legally while UK tax resident (e.g. from tax paid earnings) and HODLd it, you can go to UAE and cash out as there is no exit tax at that point. However if you...

@alabama regarding 190 days and 170 days this really depends on the jurisdiction. Quite a lot do have a 180 (or 183) day rule, but for example you could be tax resident in the UK from as little as 16 days in the tax year (though at just 16 days that would require very unusual circumstances)...