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RE: According to a recent report, less than 1% of all bitcoin transactions involve money laundering
The regulators aren't concerned about money laundering, except that they get their cut.
If they were, all the big banks would be shut down. They have already paid fines for money laundering. And we know they are continuing, because they have been fined again.
So, its not about money laundering, its about making sure the tax cattle cannot escape. All the little people have to stay and take their hair cut. (Like Crimea) While all the big boys, in the club, get to avoid such.
Fortunately, if the govern-cement does ban cryptos, it will only make them more valuable, and more people will use them. See any of the past prohibitions.
Yep. The tax issue is huge. I think having such an open international exchange program is making the tax collector sweat. How can you possibly track the trades and gains on exchanges who are housed everywhere throughout the globe? You pretty much have to rely on the tax payer's honesty, and they are unlikely to do that.
Especially when honesty can cost you so much.
Never speak of bitcoin and the Infernal Revolting Service will never ask you any questions.
Speak of bitcoin and they will have you over a barrel and demanding to know everything and after all that they will fine you for not doing what they said (after) in the first place.
wish I could resteem a comment after reading this