https://www.cnbc.com/2023/07/13/xrp-surges-after-judge-delivers-a-huge-win-to-ripple-in-its-case-against-the-sec.htmlXRP coin surges after judge delivers a huge win to Ripple in SEC case "The judgments today are a huge step forward for the industry," Chris Martin, head of research at Amberdata, told CNBC. "By judging that XRP is not a security we're starting to get clarity on what constitutes a security and what constitutes a commodity — the SEC will have to revise their tactics on several of their ongoing cases and I expect that this judgment will implicate several other tokens as non-securities."
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@zasad@. Yes, not yet at present. However, if a project is declared as a security, it would be forced to either leave the American jurisdiction or register with the US SEC for compliance which, under securities laws, might force those projects to use government approved custodians and transfer agents.
This important information is presently being left unnoticed by much of the people in the cryptospace and it will be the most damaging on the greatest innovation that decentralized ledgers and database has brought us.
I think this is one of the things that the Binance is struggling with now and it is making things hard for them. The SEC is currently not smiling and had been in a contention with both Binance and Coinbase and I think Coinbase is planning to leave the US if things does not tlstoll work out the way it ought to. The SEC had been very strict currently fighting against illegal and unregistered exchanges and cryptocurrency projects that is not abiding by the rules that is regulating them. I hope more of these regulations will not be enforced by the government of other countries against cryptocurrency exchanges and projects. The SEC fights mainly with large projects, other projects do not have money and specialists for the courts. They are forced to close. Binance and Coinbase have cooperated with all regulators, they do not need to be destroyed. Enough to write clear legislation. |
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Singling out chipmixer's answer. Is what happened to them as a result of privacy or law breaking services?
I'd say the latter. I mean, some news reported that they mix funds from various criminals whether you believe it or not, so the story is quite clear. As far as I'm aware a privacy service itself is allowed, which is why stuff like VPN and so on exist. I remember reading that a mixer is basically a money service business, which is why the government also requires them to comply with KYC and so on. Basically, it is fine to run a mixer as long as the government can see the data while others have difficulties decrypting it. CMIIW. Mixer with KYC  I think that customers will not use it. There is another practice when the mixer cooperates with AML services and before using the mixer, the AML service allows the use or writes that the coins have traces of a crime. But this did not help the BITZLATO exchange. |
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Thanks to all for the replies.
My question really boils down this: does an exchange have the power to collect taxes or does that belong to a government only?
More details: when trying to withdrawal some profits from a transaction, the exchange said I must pay them for the capital gains. It sounds shady to me, like a scam, as I thought only the IRS could actually collect taxes.
Thanks again to the community.
In Russia, there is such a practice as a tax agent. The broker keeps the money and pays this money to the tax from each profitable transaction at a rate of 13-15%. But this is only for exchanges, although derivatives or crypto funds may appear there. The trader does not need to worry about this. In the US, there is a capital gains tax, so you will have to fill out a declaration yourself or hire an accountant. But there are services on large crypto exchanges that help you fill out the declaration automatically. But these exchanges are not tax agents. |
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The problem to find a notary and a lawyer is not much of a hassle but the problem will be to find a customer who will be willing to accept crypto in order to sell the house. Usually, people will hesitate to receive payments in cryptocurrency as they believe that due to the highly volatile nature of crypto, the price may dump and causes an instant loss. Secondly, these crypto transactions can only be executed publicly in a country where crypto is legal and the government has no objection to transacting publicly in cryptocurrencies. As far as the tax is concerned, the parties will have to pay the taxes, either way, whether those choose fiat to execute this deal or use bitcoin/crypto. Loss when the price of cryptocurrencies decreases is not the main reason. For example, I would sell real estate for cryptocurrency without any problems, because I don’t want to deal with banks, and a cash transaction is not safe. But the seller of real estate has another problem in the form of a tax declaration of cryptocurrencies later. Money in a bank account from the sale of real estate should not be subject to additional taxes. If anyone knows, tell me what is the tax deduction for the sale of real estate in France? Capital gains tax depends on several factors: - Is it a principal residence or not? - Number of years held. - Amount of capital gain Etc .... And there are exemptions too, all explained on the french tax site => https://www.service-public.fr/particuliers/vosdroits/F10864 Thank you, oh nagogs on real estate in France, you will run away. The article says: "In all cases, you are exempt from capital gains tax on any property that you have owned for more than 22 years." In Russia, this term is 3 years and it does not matter what kind of property you sell, the main one, where you live or the additional one, which you use or not. |
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https://decrypt.co/147842/ethereum-inventor-vitalik-buterin-bitcoin-adviceВиталик Бутерин дал совет биткойнерам «Я думаю, что если мы хотим, чтобы Биткойн был чем-то большим, чем платежи, ему нужно больше решений для масштабирования», — сказал Виталик Бутерин в Twitter Spaces на этой неделе, указав на несколько экспериментов, которые Ethereum проводил в последние годы. https://twitter.com/udiWertheimer/status/1676839551124242432?s=20«У Биткойна действительно странная политика», — сказал Виталик, добавив, что «не поддерживает их». ~ Может быть это вообще тонкий (или наоборот толстый) троллинг - какие нахрен платежи в биткоине?  Если вынести за скобки разные тематические тусовки и группки по интересам, то все понимают что биткоин максимально не подходит для платежей. Даже "биткоинэнтузиасты" давно с этой темы съехали и пересели на цифровое золото. Подходит, но через костыли и децентрализованные мосты других блокчейнов. |
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I need some help to verify or confirm when and who collects taxes on profits made from trades or transactions of crypto currency.
I'm very new to crypto and made some transactions that returned a profit. It was my presupposition that the platform where the transaction took place would report this to the IRS, but as the individual, I have responsibility to report this on my taxes when filing next year.
Is this accurate? Any information on who collects taxes (and how) for US residents on crypto is much appreciated.
I know that in the USA there are licensed accountants who, under the contract, will make you tax returns. It is better to start with the help of professionals and study the articles of laws on your own in order to understand the numbers in the reports. A licensed accountant is liable for errors in tax reporting. Subsequent declarations can already be submitted independently if the services of an accountant are expensive for you. |
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Unfortunately, it's illegal to buy property in the EU with BTC. To those who are not familiar with this business, it's also illegal to pay in a foreign currency like the US dollar, or to pay cash save in one country. Even if the buyer accepts BTC, the transaction must be in the currency which is legal tender in the country, and the price shall be written in the contract. Sorry, but there's no choice.
Good to know how it's done in EU. But this cannot be taken as standards for othe countries. In my country bitcoin is not a legal tender but people still trade it. But I also thin there might be problems in reconciling the price to fiat for documentation. This is actually a problem easy to solve, just convert your btc to fiat and buy your property. Bitcoin is not generally acceptable that is why every countries have there own law that is backing them up. If Bitcoin is acceptable in your country for trades then that is fine but that are some places that the use of crypto is purely ban while we areas, they are strictly regulated because the government is keeping an eye on how frequent and what sort people are using crypto for. Maybe in years coming if there is a need for Bitcoin to become a general currency then the aim of Satoshi Nakamoto will be accomplished but there is still fear that Bitcoin might become regulated. To buy real estate for cryptocurrency you need to solve two main problems: Find a notary and a lawyer who will execute the contract and register this purchase. You need to pay taxes on cryptocurrency, read the latest tax guides: https://coinpanda.io/guides/crypto-taxes-france/https://blockpit.io/en/tax-guides/tax-crypto-guide-france/Pay your taxes, but don't feel like an idiot afterwards. Some tax rates are inadequate. Paying tax is both involved in whether one is ready to sell or trade in fiat or cryptocurrency but I think weighing the level of tax to pay when we trade in cryptocurrency will be less and not compared when tbe figures is in fiat when the government always have stable percentage they will collect. Taxes is one thing that cripple the interest of trading in cryptocurrency especially when we want to sell real estate. If the government frown or does not have a simple law that support cryptocurrency, they could want to stress those who will like to trade for cryptocurrency with a high tax rate to reduce the influence of cryptocurrency by the citizens. In France the tax rates are not the same and they are different for Occasional investors, Professional traders and Crypto Miners. And there are difficulties in choosing the optimal regime for paying taxes. Occasional investors pay 30% of taxes, and this is a lot. |
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https://www.justice.gov/usao-sdny/pr/former-security-engineer-international-technology-company-arrested-defrauding"Damian Williams, the United States Attorney for the Southern District of New York, Chad Plantz, the Special Agent in Charge of the San Diego Field Office of Homeland Security Investigations (“HSI”), and Tyler Hatcher, the Special Agent in Charge of the Los Angeles Field Office of the Internal Revenue Service - Criminal Investigation (“IRS-CI”), announced the unsealing of an Indictment charging SHAKEEB AHMED with wire fraud and money laundering in connection with his attack on a decentralized cryptocurrency exchange (the “Crypto Exchange”). AHMED was arrested this morning in New York, New York, and will be presented this afternoon before U.S. Magistrate Judge Robert W. Lehrburger. " __ To combat fraud on DeX, it turns out that no new legislation is needed.
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https://in.investing.com/news/bitoasis-license-revoked-by-dubais-crypto-regulator-3719206"Two notices were issued on July 10 by the Virtual Assets Regulatory Authority (VARA). The regulator did not specify which requirements BitOasis had not met. Due to BitOasis’s failure to comply with regulatory requirements within the allotted time limit, the crypto regulator in Dubai has suspended the exchange’s operating license. Two notices were issued on July 10 by the Virtual Assets Regulatory Authority (VARA). Stating that enforcement action had been taken against BitOasis and that the Dubai-based company was under review."
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In Belarus, laws work the same way as in Russia. Laws exist, but people don't try hard to follow them. In Poland, this has been banned for a long time, and when opening an account, banks are forced to sign additional papers that the bank's client will not use his account for cryptocurrency transactions. But even there people find ways out and loopholes in the system.
It is very hard for the government to stop p2p trading even though the rules are very strict, people are still going to find ways to go to trade there Bitcoin and other crypto assets. I still don't know why the government of some countries just choose to cripple crypto trading and investment which is absolutely absurd to me. The government can very easily ban p2p trading and transfers if it forces banks to act as tax agents. For example, transfers between accounts of individuals who are not entrepreneurs are not more than 500 euros per month. Anything above this amount is subject to a 10-30% tax, which is withheld immediately. If these are transfers between close relatives, then they are not taken into account and it is easy to track them or add an additional field to the transfer. |
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There's no perfect solution for this IMO. Worst comes to worst, some mixers can stop their service and relaunch with another name (as long as they don't use the same addresses, etc).
There is truly no perfect solution. Any mixer leaking the people's information to the government is digging their graves because the people are the customer and it is for the purpose of same privacy the people run to mixers. Why betray them? 4 question
4. Haters of bitcoin mixers say that "all mixers transmit data to the special services, or they will be closed very quickly." What do you say in response ?
ChipMixer:
"4. If you had power to close any service very quickly, would you start with privacy tools or law breaking services?
MixTum Mixer:
"4. Such things are untestable by an outside observer, but we at [banned mixer] know that at least one exception exists. And, again, we have been running for almost two years. I guess whether this is achievable depends on where your team and your infrastructure is located."
FoxMixer:
"4. The data FoxMixer requires is as minimal as it can be. No accounts, no passwords. We don't even require access - our site can be used entirely via Tor interface. All mixes are deleted after 7 days."
Singling out chipmixer's answer. Is what happened to them as a result of privacy or law breaking services? My opinion about mixers is positive, I use them sometimes, but I have no criminal income and I am not involved in criminal activities, so I do not worry if my transfer data is stolen or given to special services. __ But the owners of the mixer risk a very large prison term for their activities, so if there is a choice between cooperation with the authorities, then any criminal will cooperate. He doesn't want to go to jail for life. |
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Does this gives a free hand to scammers as they know that they cannot be punished by a court of law  Unfortunately, yes. There are no checks and balances in place anywhere, so while legitimate users' accounts are being shut down by exchanges who proceed to keep the money, there are also individual scammers (the high-tech thieves) who steal from people for a living, and nobody from the crypto platforms to the social media apps to the countries are doing anything to quash it. I monitor the methods of fraud in my country. There are a lot of phone scams in which the scammer asks the victim to transfer money to another account. It can be a transfer of money to a drop account or a purchase of a cryptocurrency, but it is impossible to fight against this, because the money will be quickly cashed out. All banks have instructions on how not to become a victim of a scammer, but fools still believe phone scammers. This also happens in other countries too and it is something that the government can not stop totally. This can be reduced if the government force the bank to always traced and prosecute people that are involved in this kind of scam. Some many of these kind of scam are in different style and the scammers always look for ways to make sure that they trick or compelled the victim to quickly do what they want without suspecting if they are scammer or not. Cryptocurrency has created an avenue for many of these scammers to manipulate the innocent ones and people that do not have good knowledge about the cryptocurrency and how we can become a victim of scam if we are not smart enough. I think we need to pass the information around to those that may not be aware of various crypto scam that could make them lose there funds. In Russia, if the money has been withdrawn from a bank account, then it will be cashed out very quickly through drops. In Europe, there is a system of fast payments, up to 10,000 euros and another payment system, for amounts over 10,000 euros, where payments take longer and the bank checks these payments and requests additional confirmation from the bank client. |
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Fraudsters and criminals are also not stupid people and they will use mixers and mix transactions. In the darknet, services charge 5-6% of the amount for such a service. Honest users who buy cryptocurrency on exchangers usually suffer from blocking. Exchanges don't write their policies. If your payment contains 2% "dirty" bitcoins or your payment contains 20% "dirty" bitcoins, then 2 payments can be blocked.
It is true that the criminals are not stupid people, while I made the above comment I was centered on mixers and exchanges and forgot about the darknet. It is becoming clearer than more innocent people will be indicted. The real criminals might never be caught. After I read this from the article Yet another amendment accepted on Tuesday to the Civil Jurisdiction and Judgments Act 1982 ensures courts across the U.K. can ask authorities to seize and freeze crypto tied to crime. Measures that will ensure seized assets aren't released until legal proceedings are concluded were also added to the bill. This made me think how someone who is holding coins securely and offline with privacy would be tracked that he owns crypto to be sized. It's good that there are still exchanges without KYC https://bitcointalk.org/index.php?topic=5414537In the UK, the authorities do not want citizens to have ways to illegally buy and sell cryptocurrency: https://www.crowdfundinsider.com/2023/07/209850-uk-financial-conduct-authority-updates-on-ongoing-eradication-of-illegal-crypto-atms/The Financial Conduct Authority (FCA) has issued a statement on its ongoing crackdown of crypto ATMs in the UK that are not authorized. "The FCA says it has investigated 34 locations in the UK since the start of the year, typically working with other law enforcement agencies. So far, during 2023, 26 crypto ATMs have been shut down. 18 sites suspected of operating crypto ATMs across the UK were inspected over May and June by the FCA, South West Regional Organised Crime Unit, Bedfordshire Police, Hertfordshire Police, and the Metropolitan Police. Steve Smart, Joint Executive Director of Enforcement and Market Oversight at the FCA explained that if you use an illicit crypto ATM, you may be giving your money to criminals, and you could lose all of your money." |
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add _____ https://cointelegraph.com/news/arcadia-finance-hacked-on-ethereum-and-optimism-for-455kDeFi protocol Arcadia Finance hacked on Ethereum and Optimism for $455K"A loophole in the code allowed the hacker to drain funds worth roughly $455,000 from Arcadia’s Ethereum and Optimism vaults. A hacker drained approximately $455,000 from noncustodial decentralized finance (DeFi) protocol Arcadia Finance by exploiting a code vulnerability. Blockchain investigator PeckShield alerted about the hack on Arcadia Finance, highlighting the cause as “the lack of untrusted input validation.” The code supposedly lacked a validation mechanism to cross-check unverified inputs. This loophole allowed the hacker to drain funds worth roughly $455,000 from Ethereum (darcWETH) and Optimism (darcUSDC) vaults." |
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Основные показатели экосистемы Polkadot от Messari  |
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https://decrypt.co/147842/ethereum-inventor-vitalik-buterin-bitcoin-adviceВиталик Бутерин дал совет биткойнерам «Я думаю, что если мы хотим, чтобы Биткойн был чем-то большим, чем платежи, ему нужно больше решений для масштабирования», — сказал Виталик Бутерин в Twitter Spaces на этой неделе, указав на несколько экспериментов, которые Ethereum проводил в последние годы. https://twitter.com/udiWertheimer/status/1676839551124242432?s=20«У Биткойна действительно странная политика», — сказал Виталик, добавив, что «не поддерживает их». Более 32 000 человек настроились на то, чтобы послушать, как основатель Ethereum беседует с «убийцей альткоинов» Эриком Уоллом и разработчиком биткойнов Уди Вертхаймером о том, чему биткойнеры могут научиться у Ethereum. «Я думаю, что если мы хотим, чтобы Биткойн был чем-то большим, чем просто платежи, ему потребуются варианты масштабирования, такие как Plasma или ZK Rollups », — сказал Бутерин, оба из которых были опробованы на Ethereum.
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Набрел на вот такой вот сравнительный сервис аппаратных кошельков: The Bitcoin Hole. Сервис содержит сравнительную таблицу 37 аппаратных кошельков. Может кому пригодится. Я за этой таблицей слежу ещё с того момента, когда она начала своё существование в форме эксель таблиц на гуглдокс. Её организовал пользователь форума maxirosson, который в последствии и создал The Bitcoin Hole сайт, с помощью которого продолжает поддерживть актуальность списка аппаратных кошельков. В общем разделе форума имеется специальная тема, созданная maxirosson, где можно предложить свои коррективы как к таблице, так и к самому сайту. Реакция maxirosson на такие коррективы всегда положительная. Собственно эта таблица и помогла мне в выборе Passport 2 для хранения моей заначки когда я столкнулся с необходимостью замены своего Ledger. Passport Batch 2? Не дорого для одно монетного кошелька? |
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