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A comment on The rise of crypto laundries: how criminals cash out of Bitcoin. Parent comment

Re:The rise of crypto laundries: how criminals cash out of B... by exo762 on Friday May 28, 2021 @08:42AM (#27314696)
You can use cryptocurrency which hides all of your transactions (like zcash) and pay your taxes as a law abiding citizen. There is no conflict here. Tax systems rely on citizens reporting anyway.
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Re:The rise of crypto laundries: how criminals cash out of B... by ushakov on Friday May 28, 2021 @09:55AM (#27315348)
> Tax systems rely on citizens reporting anyway

ever heard of CRS (Common Reporting Standard)?

https://en.wikipedia.org/wiki/Common_Reporting_Standard

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Re:The rise of crypto laundries: how criminals cash out of B... by n_ary on Friday May 28, 2021 @09:10AM (#27314923)
> You can use cryptocurrency which hides all of your transactions (like zcash)

Nit: only if you use zcash shielded wallets(very rare & resource hungry) are your assets private. Most wallets use transparent addresses, which is kind of similar to normal ones.

Given current landscape, only monero is defacto private.

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Re:The rise of crypto laundries: how criminals cash out of B... by dougk16 on Friday May 28, 2021 @10:23AM (#27315647)
PirateChain and Aeon as well.
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Re:The rise of crypto laundries: how criminals cash out of B... by 3np on Friday May 28, 2021 @11:04AM (#27316234)
And AZTEC on Ethereum.
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Re:The rise of crypto laundries: how criminals cash out of B... by ip26 on Friday May 28, 2021 @09:11AM (#27314927)
Tax systems follow a “trust but verify” model.
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Re:The rise of crypto laundries: how criminals cash out of B... by exo762 on Friday May 28, 2021 @10:13AM (#27315548)
Again, not a problem. ZCash allows one to cryptographically prove transactions.
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Re:The rise of crypto laundries: how criminals cash out of B... by RcrdBrt on Friday May 28, 2021 @10:35AM (#27315794)
Some are even "assume bad faith and verify"
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Re:The rise of crypto laundries: how criminals cash out of B... by MikeDelta on Friday May 28, 2021 @11:54AM (#27316924)
I really admire your faith in human kind.

I am fairly certain that many citizens would be tempted to become creative in their transparency (or activities) if they knew they would never get caught. Such is human nature.

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Re:The rise of crypto laundries: how criminals cash out of B... by ska on Friday May 28, 2021 @02:16PM (#27318714)
> Tax systems rely on citizens reporting anyway.

It relies on reporting and the right to audit, so they may end up with all of the information anyway; it's more that you are making them ask for it rather than providing it proactively.

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