Leister

They're dinging you for it.

They're saying it's a taxable event.

That's the shady part that people are missing because they're trying to get as much money as they can off this crypto business, which is why they want so much reporting in place.

What can you do about it?

Not much, because if they're tracking it at the point that Bitcoin enters your wallet in the first place, so every intake point that you can get cryptocurrency has to start with fiat at some level.

All of those are expected to do this reporting, which means you cannot escape

You cannot escape it.

What this is doing is it's causing more people to look at offshore exchanges, VPNs, et cetera, that don't have KYC so that those they're avoiding that reporting requirement in the first place.

Now you still have the financial aspect, right?

So if you had to send a wire, your bank's noting where that money went.

If you had a credit card, debit card, your banks are noting where that went because we tethered it.

No pun intended.

to fiat, you're really not going to be able to escape what the IRS is doing.

All you can hope is that president Donald Trump does something to lock down the IRS and let them get back to reality, which is no, we're not going to tax unless you sold it.

They have to sell it.

It has to be sold.

It has to be a bigly sale or something that you'd have to say to enforce.

It's got to be a sale.

It's got to go to fiat period.

Then you can track it.