Can't cash out my crypto and live my life...

[BarleyMalt]

How has this thread gone on so long.

Noticed no response from the OP for a while.

TBH if he provided a wallet address where the crypto was stored it can be run through chainalysis and the picture would soon become clear on its history.

ChainAnalysis is pseudoscience, their software isn't audited, and reportedly flags wallets because they have interacted with on-chain exchanges. I have used their software, it's comically bad.

https://bitcoinmagazine.com/technical/chainalysis-denounces-bitcoin-core-contributor-as-unqualified
Their business model essentially revolves around lobbying for more stringent AML rules, to then sell their useless software with a false positive rate of >50%. Same happens with compliance software for banks, by the way. And surveillance software designed to scan your devices for CSAM content.

AML in general is very problematic, as it's a clear inversion of the principle that an individual is innocent until proved otherwise. I understand that there's a lot of crooks, grifters and nefarious individuals out there, but now the cure is killing society.

People living with marginal lifestyles are unbanked (ask any prostitute about what's in her shoeboxes), regular people have to submit very private data to random "compliance officers" and pray that it won't fall into the wrong hands, bank accounts get frozen because there was a 20€ wire from a foreign country, etc etc... And much more!

https://twitter.com/x/status/1705679464083186004

 

[jafo]

I understand that there's a lot of crooks, grifters and nefarious individuals out there

Yeah....and these same people are "trying" to sell this pseudoscience software, AML software, compliance officers' "expertise", bankers' knowledge, and other scams by similar grifters! I get what you are saying 100%!

https://bitcoinmagazine.com/technical/chainalysis-denounces-bitcoin-core-contributor-as-unqualified

Thank you for posting this article. Although, it was so infuriating to read it. My general advisor in college once told me: "Why do you think we call it the criminal justice system? Because it's run by criminals." Later I realized he was NOT being facetious!

 

[Revoltec]

Assuming he does not owe any taxes or the statute of limitations already passed, why wouldn't the best idea be to move to a country that doesn't tax crypto and where he can file for taxes and put the acquisition price to 0 and in that way use the tax return as SoF?

 

[JackAlabama]

Assuming he does not owe any taxes or the statute of limitations already passed, why wouldn't the best idea be to move to a country that doesn't tax crypto and where he can file for taxes and put the acquisition price to 0 and in that way use the tax return as SoF?

tax return != sof