head shots 
cryptocurrency/defi protocols. Requires every protocol to KYC every user for each transaction. ETH is crashing, chuds most effected. 
https://x.com/DumbApe69420/status/1872686842941935890
New DeFi broker reporting regs are out. They are ass. Everything is pinned on "front end" providers for information reporting.
— Alex Golubitsky (@DumbApe69420) December 27, 2024
As much as I want to dig into these and start formulating strategies to deal with them, it seems really unlikely they will ever go into effect, givenβ¦
Lots of bitching about ruined holidays.
Does the IRS do anything but ruin people's holiday's (and every other day)? π
β Hermes Psychopomp, JD. (@Cypherpunk69) December 27, 2024
IRS TARGETS FRONT ENDS IN FINAL CRYPTO BROKER REPORTING REGS
β CryptoTaxGuy.ETH (@CryptoTaxGuyETH) December 27, 2024
Today, Treasury and the IRS issued "part 2" of the crypto broker reporting regs. Part 1 primarily addressed CEXes and other custodial actors and is summarized in the below-linked tweet. https://t.co/LIdSD0rWv7
1/12
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Lmbo, why did cryptocels think their magic beans wouldn't be taxed? Even a thief has to pay taxes on the value of the goods he steals.
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That's the obvious part. This is like if you had to find out the thief's identity and report that and the amount of the theft to the IRS. It's not obvious who should be covered beyond the traditional banks the regulation was originally written for (and even for them it's a bit onerous).
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KYC is super common and is mandatory for most financial transactions, certainly mandatory for trading any kind of stocks, bonds, options, futures, etc.
Why these r-slurs thought crypto was somehow special and beyond regulation is beyond me. They seem upset that the broker you make an account and trade through (especially the one that provides ACH transfers in/out and probably wire transfers too) is required to KYC but who the frick else would do it? Isn't this the really obvious approach?
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but why do you have such a hard on for big government?
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i've paid 7 figgies in taxes. heck, i spend more on lawyers and accountants than you do in taxes.
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yeah yeah yeah everybody on this website is a multimillionaire with a 10" peepee we get it
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i'm just sad that the way to offramp from the Federal Reserve central bank debt slavery is so reviled. this offsite somehow worships big government+corporate control more than reddit.
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If you're going to believe in a hopelessly naive ideology that pretends the little man can be free of the giant institutions that actually make everything and organize a now global supply chain at least have a heart and be an anarchist instead of a lolbertarian
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"offramp from the federal reserve" come on bb it's about people not wanting to pay taxes on the money they earned, it's not actually ideological beyond a thin veneer to justify that they're simply greedy
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Make a solana tx on chain with rdrama in the memo program/evm tx with rdrama in the data field with an account with at least 7 figs in balance or confirmed larp.
Should be easy enough.
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There's lots of things that are very common but probably shouldn't be.
For example, think of how license plates and automatic recognition are used to track you everywhere you travel on the highway, or even in parking lots where a police patrol will drive by and scan all the carsβthe only reason people put up with it is because license plates have been ubiquitous for so long.
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... uh yeah I see no issues w/ KYC rules tbh. Seems super reasonable to me that you need to provide your identity when transacting millions of dollars. Doesn't seem to be an issue really, it's not difficult to provide such info, and if you're already reporting your crypto trading income to the IRS then you don't really have to do anything different.
I guess these regs suck if you were committing tax fraud, but "waah i hate these regulations because they make it harder for me to commit fraud" is r-slurred.
Edit: Really it mostly sucks for the brokers who now need to track more data, as their compliance burden just got heavier. That's on them, though, not the individual customers.
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But the woke left will track and arrest me for having the wrong politics (and money laundering)
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this but unironicially
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This is a top tier joe rogan clip. Guy just spends minutes and minutes making shit up. He has no idea what a PEP is or what the agency actually does
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yeah still think its real cause its the type of thing leftoids would do. Even if they aren't doing it now, its the type of thing they want to do, like the canadian trucker thing
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This is more like the fence having to follow KYC and report the income. Which they probably have to do, but don't for obvious reason.
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many of the incels on twitter complaining about the flood of jeets coming in were saying how crypto saved them from poverty. now the crypto door is closed and they are now your goy slaves (redundant, sorry). congrats.
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i'll just live in argentina illegally and cash out for pesos periodically via local gangs. its my birthright to lay low in argentina while spreading my genetics.
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Lol nahhh, that Al Capone story is only because he was so big. Literally no thief, drug dealer w/e does so
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They may not do so, but they are required to report it as income. Do you want a link to the IRS saying so?
Bribes and bartering/exchanging services and stuff are also required to be reported as income.
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I've debated reporting $1 of income from theft just for fun
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I'm pretty sure you don't have to say how you got the money, you just have to claim it as income. Since you can't be compelled to self incriminate.
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Yeah the box is there though.
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