So no vat in Europe = everyone can launder money?

[2015Bubble]

Just buy bitcoins with cash and cash it out sepa ?
Is it really that easy? Or do you need to proof where your coins come from ?

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[criptix]

exchanges and banks still have aml and kyc, not sure what you want to ask?
just need to trigger a certain volume for them to investigate you.

[LMGTFY]

Just buy bitcoins with cash and cash it out sepa ?
Is it really that easy? Or do you need to proof where your coins come from ?

VAT - "value added tax", the equivalent of Government Sales Tax in other jurisdictions, predates the current obsession with AML and KYC. In Europe we pay VAT when buy a bar of chocolate - our financial details aren't recorded, it's just an additional cost on top of the sale price. Not paying VAT when we buy or sell BTC won't impact existing AML and KYC requirements in the EU at all, in the same way not paying VAT when we buy gold won't impact AML/KYC compliance.

[betterangels]

people in government who saw this coming probably bought btc

[n2004al]

Just buy bitcoins with cash and cash it out sepa ?
Is it really that easy? Or do you need to proof where your coins come from ?

It is not easy to launder money. To not tell impossible. Every exchange, to move or trade or change big amounts (such are the money to launder) need your identification data and proof of residence. Maybe even refer if have doubts about the provenance of the money changed. In this way you are easily controllable. If you use sepa you are registered at the bank from where you move the money. Every bank ask for the origin of the money deposited on it. And refer to the anti laundering Governative Agency if the amount is bigger than an fixed amount (in my country is 10 k us dollar). They must refer even when are received big amounts of money. So, I don't see any possible way to launder money.

[NorrisK]

You still need to pay taxes on the worth of your coins no matter what if your total wealth is higher than a certain limit for your country.

You just don't have to pay tax if you sell coins to someone.

[ynef]

You just don't have to pay tax if you sell coins to someone.

Why couldn't I see this? Makes the current rally all much clearer to me.

[LMGTFY]

You still need to pay taxes on the worth of your coins no matter what if your total wealth is higher than a certain limit for your country.

You just don't have to pay tax if you sell coins to someone.

Well, in the UK at least you'd still have to pay Capital Gains Tax (if your BTC holding has appreciated in value since you purchased them).