Crypto is Only For Tax Evaders and Nefarious Actors, Obviously
Today there were two US Congressional Hearings regarding Bitcoin, cryptocurrencies and digital assets. The reaction to the hearing was quite varied, from embracing of new technology, to outright dismissal. Let's talk about one bit of the congressional hearing in particular, where Bitcoin/crypto was said to "only be for tax evaders and narco terrorists", and why that's a load of crap, with a rebuttal from Chris Burniske at Consensus Invest.
My thoughts on the congressional hearings:
Full Committee – Public Hearing RE: Cryptocurrencies: Oversight of New Assets in the Digital Age
2nd Congressional Hearing: "The Future of Money: Digital Currency"
Chris Burniske on Bitcoin and a New Asset Class:
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Thanks for covering this @cryptobobby, the pseudo anonymous nature is going to get so many people into trouble who think they're "perfect crime" isn't being tracked, trying to be tracked, or will eventually be tracked. Chain analysis will get those nefarious people caught easy in a lot of cases. Also just means you should always declare your gains and losses appropriately as good as you can. IRS won't miss this stuff forever, even if there is some sort of forgiveness period.
Hi,
what is you conclusion on overall impact toward the future of Cryptocurriencies after these hearings?
Do you know ? When bitcoin, etherium or ripple is born, it has a lot of promising features and the crypto
community has high hopes until we start to see some flaws. That is why the #nexty of the project has appeared