48-Nation Bloc To Crack Down On Using Crypto Assets To Avoid Tax

[FREE CITIZEN]

48-nation bloc to crack down on using crypto to avoid tax

Blockheaded cheats given four years to find new schemes

www.theregister.com

 

[wellington]

2027 - right in the depths of the next bear market.

 

[JackAlabama]

48-nation bloc to crack down on using crypto to avoid tax

Blockheaded cheats given four years to find new schemes

www.theregister.com

is that an extension of the non-working crs joke? With the exeption on singapore and maybe mexico, that bloc faces very challenging years with civil wars etc, they might be already irrelevant at that point in time or have no money left.

 

[Cavaliere]

is that an extension of the non-working crs joke? With the exeption on singapore and maybe mexico, that bloc faces very challenging years with civil wars etc, they might be already irrelevant at that point in time or have no money left.

It's a game of whack-a-mole where you are not allowed to hit half of the field, even though you lose the game if you are not able to.

 

[Martin Everson]

If the crypto world disconnected from using regulated fiat on/off ramps and hosted wallets its gonna be pretty tough going to crack down on pure p2p transactions.

 

[JohnnyDoe]

If the crypto world disconnected from using regulated fiat on/off ramps and hosted wallets its gonna be pretty tough going to crack down on pure p2p transactions.

It’s already happening.

 

[void]

If the crypto world disconnected from using regulated fiat on/off ramps and hosted wallets its gonna be pretty tough going to crack down on pure p2p transactions.

it's the reality today and growing every day

however the fight is far from being won

as a last resort they can try to make it illegal, can't they?

and p2p txns can always trigger taxable events and despite it's difficult to track or restrict these transaction practically for some people it's a big enough obstacle

 

[wellington]

If the crypto world disconnected from using regulated fiat on/off ramps and hosted wallets its gonna be pretty tough going to crack down on pure p2p transactions.

Until there is a CBDC -> then its a case of BTC/etc for goods and services... price would be sedated...

They will allow ETF's as that will control the price by forcing people into paper bitcoin (etc) and closing down fiat on-off ramps and making un-hosted wallets illegal.

it's the reality today and growing every day

however the fight is far from being won

as a last resort they can try to make it illegal, can't they?

and p2p txns can always trigger taxable events and despite it's difficult to track or restrict these transaction practically for some people it's a big enough obstacle

Transactions themselves are not difficult to track.

You can see the IP's behind, and also the Wallets interacting (infura etc) which provides a list of all other wallet addresses in the associated wallet...

Now you can argue VPN... however then there's otherways to determine the devices connecting and track via that nexos.

In addition in the future there is a push for digital ID which leads to "approved digital access" to the internet (where all data is tracked against a ID) - darks come in handy then i guess...

Let's say you are using a H/W - such as Ledger, and utilise Ledger Live, Ledger knows all addresses, and all tokens/currencies in that wallet and the device information and IP.

So even H/W are not safe...

 

[Rotor]

If the crypto world disconnected from using regulated fiat on/off ramps and hosted wallets its gonna be pretty tough going to crack down on pure p2p transactions.

That's the irony. The more they try to regulate centralized exchanges and fiat offramps, the more they will loose control as people turn their back on fiat currencies and embrace crypto and pure P2P transactions.

 

[JackAlabama]

Until there is a CBDC -> then its a case of BTC/etc for goods and services... price would be sedated...

They will allow ETF's as that will control the price by forcing people into paper bitcoin (etc) and closing down fiat on-off ramps and making un-hosted wallets illegal.

the new etfs are spot etfs, paper crap stuff is already available. So they are supposed to buy bitcoin in theory at least.

Transactions themselves are not difficult to track.

Liquid sidechain is a good option. Its very sad almost no one seems to use it (it has non existent marketing), but it works great.
sideswap is the go to app for that.

You can see the IP's behind, and also the Wallets interacting (infura etc) which provides a list of all other wallet addresses in the associated wallet...

Now you can argue VPN... however then there's otherways to determine the devices connecting and track via that nexos.

In addition in the future there is a push for digital ID which leads to "approved digital access" to the internet (where all data is tracked against a ID) - darks come in handy then i guess...

Let's say you are using a H/W - such as Ledger, and utilise Ledger Live, Ledger knows all addresses, and all tokens/currencies in that wallet and the device information and IP.

So even H/W are not safe...

yup, thats an issue. One should try to operate an own node. Can be done relatively easy and cheaply with umbrel or mynode...