they’ll regulate the centralized corporations scalping your money going in/out of fiat, and they’ll penalize individuals when they find evidence of tax evasion. These regulations already exist, they just aren’t well Used To Be EMT But I’m Better Now Retired Shirt. A number of retailers have already started accepting crypto directly, though. If I can just convert my holdings to whatever Musk decides to accept next and then buy a Tesla directly with my crypto, then I don’t even need fiat in the picture! Sure it would be hard to regulate with nuance but crypto is never safe from a government making it illegal to trade within thier country. Sure it would be hard for them to catch me or you, but companies will no longer deal in it legitimately and it would be hard to convert your crypto into anything spendable.
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The value of crypto would bottom out overnight. I believe the comments calling this open manipulation of crypto markets. But if my Green political party said they wanted to ban. Crypto trading in my country on the grounds of the % of global energy used in crypto. Mining I would still vote for them. Used To Be EMT But I’m Better Now Retired Shirt when i mined. It when it came out so i managed to. Becoming a multi-thousandare lol about 11k total sold most kept. About 1100 just incase it does super spike but put about 2k into savings for tax time rest. I paid off cc and my car loan. The part into savings for taxes was the most important i think lol. They track all transactions. Tesla will report your transaction and details and the IRS will go after you for the taxes.
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