Regulating the exchanges is easy. They are already doing it to some extent. Unless you mine and trade off exchanges, they will find how much you made and where you put it.
Huh? In my community I can walk into a coffee shop and deposit $1000 into a bitcoin atm that prints out a receipt with the key. If I wanted too I could get a cash job and convert to btc daily and the government would send me welfare. To regulate exchanges that would have to be outlawed wouldn’t it?
and if they did outlaw that, wouldn’t there just be grey market exchanges where people run VPN to basically buy btc on exchanges hosted in like, the Cayman Islands?
Seems like government can only track if you do super basic transaction of Your Bank Account > US Hosted Exchange
Regulating the exchanges is easy. They are already doing it to some extent. Unless you mine and trade off exchanges, they will find how much you made and where you put it.
Huh? In my community I can walk into a coffee shop and deposit $1000 into a bitcoin atm that prints out a receipt with the key. If I wanted too I could get a cash job and convert to btc daily and the government would send me welfare. To regulate exchanges that would have to be outlawed wouldn’t it?
and if they did outlaw that, wouldn’t there just be grey market exchanges where people run VPN to basically buy btc on exchanges hosted in like, the Cayman Islands?
Seems like government can only track if you do super basic transaction of Your Bank Account > US Hosted Exchange