Offshore tax havens for the rich, crypto for us?

Lots of tax questions on the sub lately. Obviously because its tax filing season. I’m no finance lawyer but couldn’t the same kind of tax avoidance that the wealthy use to move money into their cayman islands account be useful in defending our right to not be taxed on money that is not in the banking system. Maybe i’m missing something obvious here but since the internet is non-national and does not exist within a geographic or political territory wouldn’t all of our crypto technically be “offshore.” Just a curiosity, maybe someone here has a better understanding?

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10 thoughts on “Offshore tax havens for the rich, crypto for us?”

  1. > same kind of tax avoidance that the wealthy use to move money into their cayman islands account be useful in defending our right to not be taxed on money that is not in the banking system

    Not really. Blockchains are public. The shenanigans they use are shady and involve multiple people and shell corps. You have to be silly to even think of doing something like that, especially if you don’t have an army of lawyers and CAs.

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  2. I sold and made a decent 3k profit on three different coins last year. It wasn’t overly complicated and I didn’t really have to pay much in taxes on it. I think people really just can’t help but stress about situations they’re unsure about. It’ll be ok lol

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  3. Good luck avoiding tax on a public blockchain, you’d need to hide funds with privacy coins then sell P2P for cash

    Just pay your taxes – no one wants loads of notes

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