Selling KYC BTC peer-to-peer to avoid bank intermediatory and get cash.
1149 sats \ 5 comments \ @027d28a09e 9 Apr bitcoin
I wonder how law applies in US or EU, when you wanna sell your KYC btc bought on CEX by peer-to-peer transfer ( let's say via bisq or in person ) because you wanna avoid a bank transfer and get cash.
Let's say you sell your 0.01 you've got on Binance two years ago today with a profit around 100 %.
You have the 0.01 in cold starage at address bc1xxx. You get to send it to a bc1yyy you've got from a buyer
The buyer sends it from bc1yyy to a whirpool and gets a 23k sats in badbank that he then joins to a tx0 transaction with a previous mix badbank of 80k sats left of his 0.05 nokyc btc into 0.001 pool.
Is it enforcable to claim that it was me who mixed the funds and i will have to pay a tax from buyers 0.05 at some point ? Is it now pressumed that i own more than 0.01 ?
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193 sats \ 0 replies \ @anon 9 Apr
the government can barely get a grasp on centrally reported profits...they are a long way from being able to perform a major crimes-esque investigation on your p2p bitcoin sale unless you are making millions of untaxed profits.
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110 sats \ 0 replies \ @Bitcoiner1 9 Apr
If you sell your BTC peer to peer, is up to you to declare it.
It will be very hard for the government to know that a bank transfer made by a peer, was related to a BTC sell.
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100 sats \ 0 replies \ @Satosora 10 Apr
Im pretty sure they wouldnt even know. They can barely figure out the immigration issue, do you think they are watching your small amount of bitcoin and if you declare it?
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100 sats \ 0 replies \ @tolot 9 Apr
The short answer is that they can definitely formulate that assumption.
The long answer is, as always, "IT DEPENDS".
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100 sats \ 0 replies \ @Coinsreporter 9 Apr
They can trace it down where your Bitcoins went but if you deny that you sold them for profit, government has no clue.
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