News for hackers. Stuff that matters.

A comment on Do kwon sent $80M a month to secret wallets?. Parent comment

Re:Do kwon sent $80M a month to secret wallets? by nixlim on Thursday June 09, 2022 @04:50PM (#31686673)
So, slightly on a tangent, but I feel it is still applicable: several of the people I work with live in countries with restrictive currency controls, specifically, moving money out of the country above certain trivial sum requires gov permission which is granted for specific purposes only. Opening an account in another country is both illegal from their local perspective and is not straight forward generally for anyone else - I tried opening a US Bank account from the UK and that was not easy. Being paid in BC allows for a lot of flexibility for them.

I think the point about 1st world bubble is fair, in my opinion

[ Parent | on HN ]
Re:Do kwon sent $80M a month to secret wallets? by yunohn on Thursday June 09, 2022 @04:55PM (#31686743)
The examples you state are not the primary reason that people want to be paid in crypto. It’s the potential for a speculative windfall and desire to avoid taxation that drives the need.
[ Parent | on HN ]
Re:Do kwon sent $80M a month to secret wallets? by toolz on Thursday June 09, 2022 @05:07PM (#31686891)
> The examples you state are not the primary reason that people want to be paid in crypto

This claim can be dismissed as easily as it was made. Quite literally everyone I know getting paid in crypto (which is only a dozen or so) would rather be paid in fiat but can't because of regulations.

[ Parent | on HN ]
Re:Do kwon sent $80M a month to secret wallets? by lottin on Thursday June 09, 2022 @05:58PM (#31687453)
What regulations prevent people from getting paid in "fiat" currency?
[ Parent | on HN ]
Re:Do kwon sent $80M a month to secret wallets? by nixlim on Friday June 10, 2022 @02:36AM (#31690799)
To pick one: - getting paid from abroad qualifies a journalist, or anyone for that matter, as foreign agent in Russia. This comes with obligations of monthly income/expenditure reporting, and unemployability for as long as you are on that register.
[ Parent | on HN ]
Re:Do kwon sent $80M a month to secret wallets? by lottin on Friday June 10, 2022 @05:37AM (#31691901)
The law states that you only qualify as foreign agent if you get paid in fiat specifically? Sounds a little strange.
[ Parent | on HN ]