miner420
It has everything to do with regulatory pressure. A few years ago, everyone was using unverified accounts and withdrawing freely without regional restrictions. Basically overnight, unverified accounts were dropped to…
I agree. They used to allow unverified accounts with limited withdrawal limits too, but things have completely changed since early 2017. Bitstamp and Bittrex are two exchanges I completely avoid because their customer…
Yes, up to a total of $200 in gains per year. I am confident the IRC does not allow for endless de minimis tax exemptions taken in this manner, though. We can't just gain $199 per transaction over and over without…
The wording of the bill is slightly confusing -- it makes it sound like all transactions valued under $200 will be exempted. I'm fairly sure that's not the case, based on these articles:…
There are some privacy and tax benefits. But they are not really anonymous, so it's better not to think of them that way. If you need a bank account at any point, you'll need an FEIN. Banks also do KYC. Lines of credit…
- Livecoin messed me upSep 2, 2025
Could you give some examples? Laws, guidance from tax authorities, things like that? Your Livecoin trading history is just a spreadsheet from a dodgy foreign company. It's not really "proof" of anything. It's not an…
- Livecoin messed me upAug 31, 2025
Screw you up, how? Where do you live that this is actually an issue? Money laundering pertains to illegally obtained money; tax evasion pertains to nonpayment of taxes. Not having trading history from Livecoin =…
That may be so. The important thing is that the IRS assessed 31 million civil penalties and got nearly 2,000 criminal convictions last year. 80% or more of convictions involve prison time. I'm all for avoiding taxes,…
They must really want to know who's invested in cryptocurrency. Nearly half the population files this schedule, and the question is really far reaching. "Receiving", "sending" or "acquiring any financial interest" in…
- Bitmain files lawsuit against former employee for alleged theft of intellectual propertyJul 24, 2025
Domestic intellectual property claims being enforced in China?! I've never heard of that before. If Bitmain can pick off their competitors like this, it really makes one wonder whether they have friends in higher…
- Faketoshi Craig Wright vs Cøbra from Bitcoin.orgApr 27, 2025
This has nothing to do with the Bitcoin community. He is making a point to BSV community -- that's his audience. Every one of these public maneuvers is intended to trick them into buying more BSV. There is no other…
If you want to trade on platforms like BitMEX or Deribit, you can't be a US citizen. It's a violation of their terms of service: My reading is the same as yours regarding the CFTC definition of "US person." It doesn't…
More or less. Everyone in the G20 has already pledged to implement the rules. Then again, even in the member countries, new legislation -- subject to the political process -- will be required to enact the rules. This…
- Bitcoin-AML: Who’s involved with whom?Jan 12, 2025
Indeed, I would steer clear of Changelly. I don't believe they mandate KYC like Shapeshift, but they've been known to confiscate "suspicious" transfers and then require KYC. It seems like they specifically target…
I don't think it'll drive away investors, but it could definitely change the nature of current trading practices. Some -- including Coinbase -- are speculating that these FATF guidelines will drive investors away from…
Sounds like Binance may soon be on the run again. Hong Kong, Japan, Malta... where to next? The British Virgin Islands? Or maybe Binance will finally be brought to heel like Shapeshift was? Bitfinex and some others are…
- What’s the deal with taxing lightning payments?Dec 17, 2024
If you're updating channel state in exchange for money or goods and services, that's a difficult legal argument to make. Gains and losses are obviously being realized when those state changes occur. I suspect that the…
This is rather chilling news. I hope Coinbase and other lobbyists have some success in deterring the Treasury Department. Now we have some context for this rather thoughtful piece published by CoinCenter last week: How…
- Abolishing BitLicenseMay 29, 2024
If huge exchanges like Bittrex can't meet the requirements, it suggests the regulations are pretty onerous. DFS publicly responded regarding that denial, and bizarrely cited KYC lapses in 2017 as a reason to deny the…
- Abolishing BitLicenseMay 29, 2024
I definitely wasn't asking for it. I don't think anyone was asking for something so severe as the BitLicense. Four years later, less than 20 cryptocurrency services in the world can operate in New York. That alone…