2nd question btw. Any idea how many people are buying/selling bitcoin and have not paid taxes? I've heard it's a lot but idk what percentage of the population. Like a lot of people I know who are into bitcoin didn't even know you had to pay taxes on trades. I, like them, thought it was only when you cashed out. I heard the IRS sent a crap ton of people letter reminding them of taxes.
Also, do exchanges like coinbase automatically hand over all your info to the IRS or do they only do it upon request? Like the IRS has to call them to ask for yours in particular?
What about exchanges like foreign exchanges like kraken or kucoin? I hear they are less likely to cooperate with the US gov? Idk. anyone have much info on that?
Not one well-known cryptocurrency exchange in the world will contradict the policy of US financial regulators. If data about you is required, the exchange will provide it. This is written in the user agreement. No need to be so naive, all your data about the actions on the exchange is not protected.
I trade through decentralized bridges
https://app.rango.exchange/Try it, more information in my topic
https://bitcointalk.org/index.php?topic=5389259In case you're wondering, you might want to check out the incognito wallet/exchange. No KYC, you can privately convert to XMR and there is no info they can give to the gov even if they wanted to but the best part is they're not located in the US so they wont be getting shut down. I think they're located in some South Asian nation and another part of it in Russia I think? If in Russia, I'm pretty sure any exchange there is not going to cooperate with the US right now lol.
I wish there were more Russian crypto exchanges.
There are no Russian crypto exchanges in Russia, because there is no legislation that regulates the operation of these crypto exchanges.
Binance and other large exchanges operate in Russia, but they are located in a different jurisdiction, and Russian law does not prohibit citizens from trading on foreign exchanges.
There is a proposal in Russia to allow trading in cryptocurrencies on stock exchanges, but in fact it will be trading in futures without the possibility of withdrawing coins to your wallet.