neutron on Nostr: Crypto exchanges can obviously report any crypto purchases and balances on custodial ...
Crypto exchanges can obviously report any crypto purchases and balances on custodial accounts to tax authorities, and that can be used as a basis for taxation.
But how do they imagine taxing those who have bought (KYC) crypto but that have been transferred to self custody?
They can only prove somebody has made the purchases, but not the ownership of the related addresses. Unless they go full authoritarian and just assume ownership and therefore tax liability.
In any case, they are plain thieves and despicable bullies.
But how do they imagine taxing those who have bought (KYC) crypto but that have been transferred to self custody?
They can only prove somebody has made the purchases, but not the ownership of the related addresses. Unless they go full authoritarian and just assume ownership and therefore tax liability.
In any case, they are plain thieves and despicable bullies.