The regulators are coming after cryptocurrencies big time. From Wesley Thysee at DecentralizedLegalSystem.com:
Massive overreach of international regulators to force all service providers in the industry to:
- Record ALL crypto trades on exchanges, DEFI and DEXs;
- Record (large) purchases from private wallets;
- Record all transfers to cold storage and make lists with private wallet addresses;
- Send all this info annually to the (tax) authorities;
- And finally, force governments to pass these rules into domestic law.
The war on privacy continues. The aim: to tackle anonymous spending and exchanging of crypto.
As you’ll discover, these new regulations force upon us a system of complete surveillance and control.
This report explains exactly what to expect from the latest developments launched in October 2022…
What is Going On?
Last year, the crypto world was shaken to its core when the Financial Action Task Force (FATF), acting in behalf of the G20, released their guidance on virtual assets.1)
This document laid out a set of rules regarding stablecoins, distinctions between private and hosted wallets, extensive KYC requirements, the tackling of privacy tools, and more.2) FATF has also provided a final definition of the type of service provider tasked with reporting on crypto: the Virtual Asset Service Provider.
Fast forward to today, and these rules are quickly being implemented across the world.3) But as usual, it didn’t stop there. Another international regulator, the OECD, is already building on this framework in an attempt to massively increase the grip of authorities on crypo.