Great language keep it up..Australia and Canada and UK and some countries in Europe are US financial bitches, there you go crypto cult member, by the way I am not moaning about US regulators' infact I am supporting the actions read it slowly buddy pal mate
Ahh, I misunderstood you. I thought you wanted the exchanges regulated because you wanted to actually trade, but it sounds like you don't really plan to trade crypto assets, my bad The issue is that the exchanges want to be regulated with clear regulations and spend millions of $, but the SEC don't want them to be regulated You may be surprised, but I also support what's going on in the US crypto regulations but that's because I'm no longer there What's going to happen, imo, is that the US people will be able to buy bitcoins and other crypto assets from a fully regulated AML-KYC close system from Blackrock etf, Fidelity, etc They will think they own bitcoins and other crypto assets but they really do not as they cannot withdraw to local wallets They will be happy... as long as they don't go against LGBTQ++LMNOPQRST or wear a MAGA hat, or don't allow their kids to have surgery for TRANS or don't support BLM or don't support the climate change initative The minute they do any of the above, their bitcoins and crypto assets will be frozen or confiscated I see you're a big supporter of that system, Pal, buddy, my friend. Good luck and hope you will be happy
There's no 1031 exchange available for BTC though. When you sell BTC at a profit>>> you pay taxes. Right? Not really an apples to apples comparison in a way. As far as I know.
This is primarily due to early lobbying efforts from key BTC holders such as DCG, Winklevoss twins, and other insiders. Surprise, Jeff Epstein is on that list as well. There is also ongoing lobbying efforts by BTC Maxis to cement that status while label every other crypto as a security.
KYC & AML efforts stem back to the 1990s, they were easily implemented en masse with the Patriot Act (hmmm) The governments did not make the CEXs do anything in regards of KYC & AML. There is no way to interact with the trad fi banking system electronically without KYC & AML, even if you are selling a used toilet seat on craigslist. The irony is that BTC was created to escape that system. Instead, it's only further progressing it to the levels of a Black Mirror episode.
There is nothing stopping from anyone in USA from getting into crypto without relying on the KYC walled garden. Isn't that why this tech was created in the first place? Of course, few will care to do the steps to do it, cause they don't care about that. They just want gains, and that narrative will be easily sold to them by Wall Street when the time is right.