All this KYC and get money gets laundered. And they expect us to think they can stop criminals from using Bitcoin to fund evil is laughable!
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0 sats \ 5 replies \ @OT 9h
So why are they worried about "crypto" when there IS a trace?
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70 sats \ 4 replies \ @fourrules 4h
Because aside from CGT they can't tax it without asking permission.
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0 sats \ 3 replies \ @OT 3h
But if the cash way had no trace at all they definitely aren't getting their CGT are they?
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0 sats \ 2 replies \ @fourrules 3h
There is no CGT on cash. If you mean selling assets, they typically know where all of the assets are that gain in value, so as real estate, stocks, etc... Even gold is not that easy to sell without going through some KYC process, somewhere along the line which will expect you to declare the origin on the value.
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67 sats \ 1 reply \ @OT 3h
From the video he's talking about how these guys do money laundering without any trace. What didn't make sense to me is why the gov is worried about Bitcoin ("crypto") when there IS a trace on the block chain.
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0 sats \ 0 replies \ @fourrules 3h
I just responded to that. They have been trying be to make cash inconvenient and creating a general impression of it being a bit suspect for 15 years, making it more difficult for regular people to sell assets for cash without going through a KYC entity and declaring the origin of the money.
Bitcoin is kin to cash, they can't take it without force. Its not that useful to them that there is a trace if it's pseudonymous and anyone can "lose" their private keys (aka wait it out for regime change or move to another jurisdiction).
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