/biz/ - Business & Finance

>>8251212

Yes indeed - cryptos are interesting for governments only when they are turned into fiat (taxable) or used for transactions (illicit or legal)

At least in the EU, directive 2015/849 will effectively force all exchanges and similar obliged entities to gather extensive user data report and report all one-time or cumulative transactions in excess of 10.000e. Practically this means that all EU exchanges and exchanges that operate in EU are obliged to provide government agencies data that will expose who much a certain individual has bough/sold crypto. Oh and lets not forget that this also obliges banks to report any transaction in excess of 10.000e (also applies for cumulative transactions).

As long as people buy/sell crypto for fiat gains, which 99% people do, it does not matter if the crypto is "private".

Just the 2 cents of a lawyer.