Regulations and how I deal with them

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avatar of @alexvan
2 months ago - 2 minutes read


you might have read that I'm not a big fan of KYC in crypto or keen to be on some podcasts and videos. Well, also on #hivefest, I try to stay out of the pictures taken. There are some people that know my identity, but most in here don't, and if it stays as I want to, probably ever won't.

I'm a primary cash user, when it comes to buys out of the crypto world. I use the company cards on travel, just because of cashflow issues, as I would have to have a buffer of two full months of travel money blocked.

So, for regulations in crypto is a direct hit to privacy. Mostly a no-go for most of the people I know.

Image from thread

I've closed all the accounts on the exchanges, where KYC and some other regulatory things have been needed. Binance is bugging me once in a while to do the KYC process, but I did not enter the platform for the past 2-3 years. Also, the name used Lance A-Lot, would be hard to find. Coinbase and Bittrex are also closed.

Beside all the things, my crypto business either goes anonymously or via a firm, where my data gets lost. There is this firm options with shares on holders, where the one who has the paper is the owner, without any previous link to it. Some countries in the world allow this type, and it is a good method to be legal in front of the regulatory nonsense.

Most we are overtaxed, like income is taxed, then our assets are taxed, using the income we are taxed again. And for what? So that socialist can brag that they understand the economy.

I understand that there is a mafia out there, but most use bank account transfer, due to the size needed. I don't see anyone going after cartels bank accounts.

So, how do I deal? Use a laptop only for crypto transactions, with VPN and everything is accounted in a firm. No personal KYC, no other thing and it is good so in the end. I pay taxes, but optimize them, not to overpay.

Image from thread

How about you? How do you deal with regulations?

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