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.
Mr⚡2MB 🐇🏴☠️
npub1y6…a9hq8
2023-08-09 08:04:38
Author Public Key
npub1y6dsk2qtn8j8ynd02uv2dj8yztzey6wvgu48pdrjkxk0phkfr09q4a9hq8Published at
2023-08-09 08:04:38Event JSON
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"pubkey": "269b0b280b99e4724daf5718a6c8e412c59269cc472a70b472b1acf0dec91bca",
"created_at": 1691568278,
"kind": 1,
"tags": [
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"content": "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. \n\nThe question now becomes can you ever prove to them that you got rid of your stash if you wanted to? \n\nIf you can't, does that mean you'll be responsible for paying taxes on them for the rest of your life? \n\nWhat if your family inherits your stash? Are they also liable? \n\nI don't deal with KYC/AML and the only taxes I pay are sales tax.\n\nBut you do and in my opinion, you're screwed. ",
"sig": "c2b200cbc720619a6aa8416b1bd2801e9fafe08a565f4b1403dc41c6de1147e605e63a0f62aba147d6936e53de42df50b998c712b2a7223886f0eada70f42566"
}