Quote from: zasad@ on Today at 11:40:35 AM

Quote from: Bitstackerslacker on Today at 03:45:27 AM

Just a question, anybody who used KYC during LBC operation all those trades under that person's name is usually filed in their database ready for request from the tax man aka IRS or HMRC (if British)

Now that local bitcoin is dead....I remember it gave people an option to delete their account. If some one did. Does that now mean any trades during its operation are not recoverable by the tax man?

Since technically nobody would be able to answer the request from LBC since no employees and the account information people had a chance to delete just before it shutdown.

does that mean any record requested from a tax office is now a dead end?

Asking for a friend ofc ofc

I will try to explain to you the principle of declaring and paying taxes.
If you received income under your law, you would be required to file a tax return and pay taxes.
If you want to cheat your tax office and reduce your tax or not pay tax at all, because they won't be able to check your income due to the closure of the exchange, then you need to be sure of this.

The entire point of this post is asking what happens to KYC when the business goes busy and there is no employees and if they delete accounts do they delete KYC information. Alot of exchanges going bust and I'm curious

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