That is not true.
Based on a fbi report they were already in 2011 able to trace owners of 98% of all transaction done via bitcoin.
The trace doesn't need to be done via KYC.Its done somewhere else where noone thinks about it. or even thinks to hide.
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Do cryptocurrency exchanges implement CRS/FATCA?
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Based on a fbi report they were already in 2011 able to trace owners of 98% of all transaction done via bitcoin.
The trace doesn't need to be done via KYC.Its done somewhere else where noone thinks about it. or even thinks to hide.
If you want to make sure to not have to provide KYC or get yout assets frozen for whatever reason i recommend usind decentralized exchanges where non custodial trading is offered.
You high probably need to place your oder with a margin for a trader who will execute it for arbitrage between your order and a centralized exchange.
Bringing your attention to this; g20 report tax ministers - https://www.oecd.org/tax/oecd-secretary-general-tax-report-g20-finance-ministers-april-2021.pdf
“The OECD will continue to work on the detailed technical proposals for the new tax reporting framework for crypto-assets, with a view to delivering a proposal to the G20 later in 2021.”
There will be a NEW reporting framework, and it will come sooner than we think.
“The OECD will continue to work on the detailed technical proposals for the new tax reporting framework for crypto-assets, with a view to delivering a proposal to the G20 later in 2021.”
There will be a NEW reporting framework, and it will come sooner than we think.
The best exchange is: pancakeswap.finance
The best yield farms: autofarm.network, beefy.finance and acryptos.com
The best (and only?) margin farm: alpacafinance.org
Get a safepal.io wallet to deal with them. Ledger is very poor.
I am currently making about 4X my normal income on crypto farming. 100s of percent APYs. What could go wrong? Crypto is perfect. How long until every dogsbody is making big money like me?!?
There is a fairly good exchange called Bilaxy. When I signed up they asked for my name and national ID. And by that I mean they just asked me to type them in. I have sent no documents. After I gave them that I was able to deposit/withdraw $xxx,xxx in crypto per day. No fiat.
Dear god please no god no.
How to fix this? Just close all the exchange accounts? Convert your fiat in exchanges to stablecoins?
Not sure about FATCA, but FinCEN said in December that they're planning to require FBAR reporting from US persons who store crypto on foreign exchanges. It's not official, yet.
Obviously, FBAR is a different beast than FATCA/CRS, but it should be mentioned still.
Randomly selected source: Cryptocurrency May Be Subject To FBAR Reporting Soon
Obviously, FBAR is a different beast than FATCA/CRS, but it should be mentioned still.
Randomly selected source: Cryptocurrency May Be Subject To FBAR Reporting Soon
Not sure what you're trying to hide (if anything), but I think a lot of cryptocurrency activity is going to move off of centralized exchanges in the near future. Instead, we'll see people use decentralized crypto-to-crypto protocols/exchanges more frequently (UniSwap / ThorChain / etc.). Besides, the use of peer-2-peer transactions to convert to/from fiat is going to increase; coordinated via decentralized, uncensorable mechanisms like Bisq.
Besides, mixing/obfuscation techniques are going to become much more user friendly and more widely adopted. This will make it more difficult to trace these types of transactions. Ultimately, governments will have no alternative but to go after developers of these decentralized systems. The most democratic jurisdictions will hopefully find it difficult to justify such extreme measures. Ideologically motivated developers will take risks and find ways to stay anonymous.
Ideally, the world will eventually become less reliant on fiat money as people realize that their governments patronize and surveil them like underage children. The Internet has given people access to knowledge and means to coordinate themselves across borders. I think the endgame is that governments will have to surrender to technology and acknowledge that they are no longer adding much value in the modern world. But that's just what my crystal ball is saying. We'll have to live in the current system for a bit longer, and the transition won't be smooth.
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I completely agree and just want to add that there were even talks about crowdfunding (CCS) physical protection for Monero devs for example. It's definitely possible govts will go after devs themselves.
You correct with a statement arguing for something different to what I answered
As I said the beauty of crypto is that you don't need to provide any KYC for most wallets, whether you can trace BTC to a anonymous wallet or not I don't question, but guarding your own privacy can let the FBI trace as much as you like they won't find you if you know what you are doing.
Only OTC is secure.You correct with a statement arguing for something different to what I answered
As I said the beauty of crypto is that you don't need to provide any KYC for most wallets, whether you can trace BTC to a anonymous wallet or not I don't question, but guarding your own privacy can let the FBI trace as much as you like they won't find you if you know what you are doing.
Everything which is using internet is traceable.They analyse the traffic on routers at the backbones and there it doesn't help if you are encrypted or not.
If you use internet an idea could be using a device which emei can't be traced to you and making the transactions in a mall with free wifi which doesn't need registration
If you don't know at all what you're doing, you indeed can't assume privacy. Even if you know what you're doing, you won't stay anonymous if a government is staffing a cyber intelligence team to find you. Look at the Eastern European cyber crime gangs who only operate over cracked WiFis with Tor tunneled through own botnets, and who have triple encrypted hard drives with one layer self-developed (to avoid backdoors).
Even they get caught, because at some point someone makes a mistake. Could be as stupid as reusing a password that you also use somewhere with your real identity.
Just don't do any illegal stuff and you will be fine. There are many legal ways to make money and still be smart about it.
Even they get caught, because at some point someone makes a mistake. Could be as stupid as reusing a password that you also use somewhere with your real identity.
Just don't do any illegal stuff and you will be fine. There are many legal ways to make money and still be smart about it.
Cyber gangs typically use WiFi antennas to crack Wifis far from their own location. Deep packet inspection doesn't help against E2E encryption.
Okay, following idea:
You setup a mobile WIFI in your car or boat, use a SIM without name for connecting to the net or you drive around in a city until you get connected on someone else home lan.
Now you can do whatever you want and it will not be traceable to you, or did I miss something?
You setup a mobile WIFI in your car or boat, use a SIM without name for connecting to the net or you drive around in a city until you get connected on someone else home lan.
Now you can do whatever you want and it will not be traceable to you, or did I miss something?
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