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RE: The IRS Probe into Coinbase (Part 2)
Upvoted and followed.
Great information. One thing about the IRS, they have to justify their time. Hence, going after those who are moving around only small amounts of money, the tax implications on that is probably minimal.
That said, the point of the article holds. We are still in an era where cryptos have to be purchased on exchanges that are not decentralized. Until that happens, a company can always be forced/coerced into giving up the data. Coinbase prevailed for the most part...this time.
Absolutely true. Almost all exchanges require proof of identity. So if privacy or anonymity are your goals, your out of luck.
Perhaps we will see someone(s) put together decentralized exchanges where people can buy cryptocurrencies. If that happened, the government watchdogs would have a cow.
It would have to be an exchange that did no identity verification which would be unlikely. It looks like peer-to-peer is one option, but it's not at all perfect.
Agreed it would have to be some peer-to-peer network and would come with a host of challenges.
For now, so much for anonymity.