Dont worry bitcoin fanboys, this doesnt mean you have to worry about the FEDs tracing your dope buys. (Just kidding. Worry)
Gee, I wonder how they did all of this very sophisticated monitoring and tracking... :) Always gives me big smile when I read crypto types saying it gives them privacy.
“Lawyers for the government went on to accuse Lichtenstein and Morgan of using fake identities to open online accounts and deploying devices to automate transactions — in addition to a spate of other laundering techniques. The stolen funds were also deposited into several different virtual currency exchanges and darknet markets in an attempt to wash the currency, something the DOJ called “chain hopping.”
The bitcoin was converted into other currency that shielded their identity, and US bank accounts were used to make their transactions look legitimate. “
I have been under audit for crypto trades. (It’s very amicable and I am not a scofflaw). Trust me…the Fed’s have learned a lot about how to track crypto. Anyone thinking they are going avoid taxes on crypto sales…they are nuts.
I had a debate with them today about how many decimal places things should be counted. Bitcoin is 8. They want to see things to 12. It’s maddening.