RE: Daily Crypto Markets Live Blog: The Quest For 10K Comments Continues (06/10/22)
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I didnt look into it deeply. It might be FINRA.
Either way, it doesnt matter, there is no way to get HBD under regulation.
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If there's one thing I've learned since 2008, it's that laws once meant only for "certain situations" eventually end up being used in "all" situations. This came to pass with the more questionable provisions of USA PATRIOT Act and the income tax amendment to the US Constitution which was meant "only" for those who "qualified" until that came to mean the effectively "everyone" qualified. Even Social Security Numbers-- once meant to be used only for Social Security purposes-- ended up being used as de facto ID numbers throughout society.
I want to believe that cryptocurrency and specifically HBD are beyond reach of government regulation, but a government hellbent on extracting its pound of flesh will get its pound of flesh one way or another. Even if the effort ends up a failure, it has the means to make life a living hell for the population living under its jurisdiction.
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They simply adjust the numbers to encompass more people. It is really that simple.
Few realize the income tax act was only meant to be "for the rich". This is why those who support the "tax on unrealized gains" are total assholes. They claim well it is good to tax the rich. Even if that were the case, in 20 years it will be a tax on everyone.
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That's exactly my point. What starts as something targeted to a small number of people ends up being used on all of us. Then instead of going away once the "mission accomplished" or a "sunset clause" moment is reached, the tax is kept in place as a source of revenue and we're suckers for not paying attention.
At the federal level, government generally receives more in taxes each year that in previous years. Yet national debt grows unsustainably. As bad as government taxation is on us, what's even worse is government spending taking place at a rate which exceeds incoming tax receipts.
Revolutions have started for lesser reasons.
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