Re: Proof of source of funds requirements and bitcoin privacy
Buy a collection of NFTs on Ethereum or any L2 blockchain.
Then put that collection up for 100 times its value. Change your bitcoin to etherium on no KYC exchanger and buy your collection.
WOW, you are a successful NFT crypto trader. Declare your profits, pay your taxes
That's not enough, you have to read on other thread where EU are asking to provide the full name with someone you trade your coins, Binance changes terms of serviceThen put that collection up for 100 times its value. Change your bitcoin to etherium on no KYC exchanger and buy your collection.
WOW, you are a successful NFT crypto trader. Declare your profits, pay your taxes
Using no KYC exchange is pretty sure illegal in EU.
Trade with yourself and declare it you bought from other people is obviously broke their regulations.
What is your solution to this problem? are you revolutionary and hodling uselss bitcoin which government want to confiscate from you? are you evading paying taxes on your useless bitcoin? Or are you using bitcoin without any privacy? you have 90% of all your wealth without privacy, easily tracked by everyone who wants to know? And then you only use coinjoin on small amounts of spending money? That is barely any privacy and not satoshis vision for bitcoin.
Sad to say, but I think people will choose to lost their privacy over their money.The only way to protect privacy is by trade face to face, but I'm sure people are discouraged to do it because it's not secure.