(Headline video below) The world governments are working towards removing your ability to have financial privacy with cryptocurrency. And an interesting tidbit near the end, is when the IRS gets your wallet address from the exchange and see that you moved that cryptocurrency, they might treat that as you having liquidated it to then come after you for capital gains taxes, when in effect you just moved it to another wallet or made it private with a coinjoin. Since this all kicks in by 2027, you have a little time to get some crypto and stash it in self-custody away from the governments prying eyes (they really want the ability to steal your money if they desire). And here in the states you can cash out long term, over 1 year, assets up to a total income of $48,350 single, or $96,700 married, and pay 0% capital gains. Short term, less than a year of holding, capital gains are treated like normal income though you probably didn’t make much in such a short time. And the government is aggressive in coming after you leaving you to prove you didn’t do something wrong (probably forcing you to prove you have the crypto by giving up the addresses and wallet details), like with asset forfeiture and stealing from law abiding citizens left to sue the government to get their property back. Eventually, what you have squirreled away in a private wallet they know about is going to be forced into a custodial wallet somewhere where it can be tracked with as much detail as they track your movements and TradFi spending today.
