111–120 of 915 posts
I think another important thing to mention is that there is a regulation on centralized crypto exchanges about unhosted wallets. Therefore, this regulation is completely against defi I would say.
Let's stop saying 'unhosted wallets'. Those are exchange accounts, the contents of which you have access too solely by the mercy of the exchange.
It's a spreadng practice. Australia is introducing (or may have already passed?) a similar Act with an AU $10K limit on "unapproved" cash transactions. Over the limit you'll need approval. Of course the usual loophole for the weathy applies, 3x $3,000 face value gold bullion coins [1] is under the cash transaction limit, although at a kilo each and ~$88K per in valuae, that's almost $300K in value technically under a…
Anyone can use that loophole it requires no special legal machinations.
It's a spreadng practice. Australia is introducing (or may have already passed?) a similar Act with an AU $10K limit on "unapproved" cash transactions. Over the limit you'll need approval. Of course the usual loophole for the weathy applies, 3x $3,000 face value gold bullion coins [1] is under the cash transaction limit, although at a kilo each and ~$88K per in valuae, that's almost $300K in value technically under a…
If I understand correctly you're saying: there is a coin that I can buy for $100,000 (because of its weight in gold) yet it is stamped with $1, which is its face value.
As such it only counts as $1, and this thus is not reportable?
The EU "government" (a non-directly elected entity) is predictably trying to enforce tax rules. Even worse is the minimum tax on profits that targets the poorer members by removing one of the ways they can compete with bigger ones. "...No Ireland, you're not allowed to have low taxes, we the guideposts of EU - France and Germany tax our people and companies up to 30-45%, what's that meager 10% tax you're giving them?…
Earlier quoted context omitted.
Why should anyone have to prove what’s in their pocket is theirs? Why not have police question people for wearing shoes that are a little too nice or seize expensive watches?
Crime. Not that difficult, is it?
Any country that considers that a crime or potentially a crime is dystopian. It’s insane that people think what was the typical way to pay for things a few years ago (and still is in the free world) is some vile action worthy of suspicion.
It's a spreadng practice. Australia is introducing (or may have already passed?) a similar Act with an AU $10K limit on "unapproved" cash transactions. Over the limit you'll need approval. Of course the usual loophole for the weathy applies, 3x $3,000 face value gold bullion coins [1] is under the cash transaction limit, although at a kilo each and ~$88K per in valuae, that's almost $300K in value technically under a…
In Spain the limit is 1K€
I thought it was the case in France, too, but as it turns out that's the limit only when one party is a company. There's no limit for transactions between individuals (with a few exceptions).
https://www.service-public.fr/particuliers/vosdroits/F10999?...
Earlier quoted context omitted.
Crime. Not that difficult, is it?
I literally have the equivalent of $1500 in my wallet right now. Why? Because I withdrew it and might end up buying something with it, either in one big purchase or ration it throughout the month. Any country that considers that a crime or potentially a crime is dystopian. It’s insane that people think what was the typical way to pay for things a few years ago (and still is in the free world) is some vile action wort…
> Any country that considers that a crime or potentially a crime is dystopian.
Then Spain and Greece meet your definition of being dystopian, as their cash payment limits are 1,000 EUR and 500 EUR respectively.
And I agree with you.