Saturday, February 4, 2023

The tax man wants to know

By DAC000 , in Cryptocurrency Regulation taxes , at August 30, 2020 Tags: , ,

if Americans have had any dealings with cryptocurrencies in 2020. While this seems US specific, the Financial Action Task Force (aka, FATA) has been quietly introducing increasingly specific regulations to member nations for some time now. Which is why cryptocurrency exchanges now must be fully AML / KYC compliant. About a one minute read.

Comment: over the past three years we’ve seen increasingly detailed and focused questions on US tax returns. Eventually they’ll be asking for amounts held. Could this be a precursor to prohibition? In my view, YES.