Hahaha. Probably reasonable advice. Thanks for the humor and bluntness. Others of us would like to find another answer though, if there is one.
Are you implying you think everyone in crypto is either naive or of a criminal mindset? Or are you implying people are ready to fight their government and are fed up to the point of proactively not caring?
If you do not want to get in trouble, just stay away. It's as simple as that.
Life is about weighing relative risk vs. reward probabilistically.
Also there is the concept of near-term and long-term. Long-term legal risk is much higher than short-term, but at age 50 I care much less about my long-term risk because I might be dead or too old any way. Also there is the concept/option of changing citizenships after some time. Etc..
As for users of crypto, I would track your capital gains when you are holding it in large enough quantities (e.g. over $600 worth in the USA) and also your income. Report everything on taxes as you are obligated to in your jurisdiction.
But this thread was more about how to single out which coin models are at very high risk of being classified as "investment securities".
Edit: also the law exists to protect the "public interest" (although it may be gamed by the powers-that-be, I am referring to the official raison d'être for law), thus doing acts that harm others in unjustified ways, then expect to incur the wrath of the law. Whereas, if you try your best to really help others and be very thorough with disclosure, then risks of unjust legal culpability decline.
Well, then go dabble in crypto then. Why even worry about it too much. Everyone in the USA is on average committing 3 felonies a day just by breathing.
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