Mr⚡2MB 🐇 on Nostr: When you get reported to the authorities by your favorite and honest #bitcoin ...
When you get reported to the authorities by your favorite and honest #bitcoin exchange using KYC/AML, you enter their watch-list. You become a "suspect" since they know how much bitcoin you have bought.
The question now becomes can you ever prove to them that you got rid of your stash if you wanted to?
If you can't, does that mean you'll be responsible for paying taxes on them for the rest of your life?
What if your family inherits your stash? Are they also liable?
I don't deal with KYC/AML and the only taxes I pay are sales tax.
But you do and in my opinion, you're screwed.
The question now becomes can you ever prove to them that you got rid of your stash if you wanted to?
If you can't, does that mean you'll be responsible for paying taxes on them for the rest of your life?
What if your family inherits your stash? Are they also liable?
I don't deal with KYC/AML and the only taxes I pay are sales tax.
But you do and in my opinion, you're screwed.