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Forewarning: Get Off Exchanges (Patreon)

Published:
2023-05-11 00:38:21
Imported:
2023-05

Content

HMRC is considering new rules that would allow it to seize cryptocurrency from businesses that fail to pay their taxes.

The proposals would give HMRC the power to access online wallets, including those used by businesses.

HMRC is already able to seize funds from bank accounts when individuals fail to pay tax.

The move is seen as a crackdown on the cryptocurrency sector, which has been accused of allowing money laundering and criminal activity.

The rules would only apply to centralised online exchanges, not individual wallets.

Stay well team.  Prepare!!!

https://www.telegraph.co.uk/business/2023/05/07/hmrc-hold-bitcoin-seize-crypto-tax-dodgers/


PS my paranoid head says this is a stepping stone for CBDC

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Comments

Anonymous

I’ve had money seized from my business account by the irs and it’s not fun. They hit all accounts and switched credit card merchant accounts to clear to an IRS bank account. Of course I was playing with fire and should have been paying taxes, but it was a wake up call to their power and my lack there of. It’s all an illusion and the government can do what ever the hell it wants when it wants. More power isn’t what they need.

Anonymous

"not your keys, not your crypto" - Trace

Anonymous

My point being it’s taxes now, but could just as easily be something else and then you’re f***ed and cant do anything about it.

Anonymous
>>108280256

And all they seem to do with that tax money is buy bullets and bombs. I think we’ve been convinced that they need this money.(and always more) because without it, the country would crumble. I just don’t know if this is true. I don’t think it is personally. I think we might see things improve actually.

Anonymous
>>108280256

But yeah, bro. You’re playing with fire lol Not worth the trouble. And for now. It’s illegal. Very illegal.

Anonymous
>>108280256

They don’t mess around with payroll taxes and that’s a slippery slope when your business is struggling. Hold off on that payment, we’ll catch up…. And so that goes.

Anonymous

Well damn

Anonymous

Who is HMRC?

Anonymous

If a government agency can persuade individuals and businesses to take their crypto off exchanges and wallets, it becomes less useful as a fiat replacement. Or does it make crypto stronger? Does it only make Bitcoin stronger?

Anonymous

the way they get away with this is by doing it slowly. Eventually these laws will add up and their campaigns will brainwash 1/2 the public to make it easier to confiscate your cold wallets.. then, what's left? It's going to be a fight from here on out team.

Anonymous

As Jeff Booth has pointed out, everything that can be tried to stop bitcoin, will be tried. And it will all fail in the end.

Anonymous

i get it. tax “prepare”

Anonymous
>>108280467

“Mandates” should be all anyone needs to understand this fact. And It’s not just the power they have, but their willingness to use it AGAINST their own people. It was not difficult for them. I think they rather enjoyed it honestly. The Constitution was discarded. Our Rights were treated as if they were something that they blew into a Kleenex tissue and tossed into the rubbish. It was that easy for them. And WE helped (not me, of course lol) If that doesn’t compel someone to wake up, it’s impossible for me to believe they ever will. Not good

Anonymous

Governments are relentless. It’s a no brainer. Capital needed to fuel the machine.

Anonymous

What about ira with itrust capital? Maybe worth paying the 40% and get the money out of there- thoughts?

Anonymous

Do you think Phantom wallet is safe?

Anonymous

Is a hot wallet safe or not?

Anonymous

I think we need to get Solana phones. Aren’t they hardware wallets?

Anonymous

Coinbase et al are going to pay their taxes. I wouldn't use a cex that was shady enough to evade taxes anyways.

Anonymous

Wild! It’s like taking your kid when its in day care 😂 I can’t

Anonymous

One law for us peasants, another for the government officials... maybe we also need to have power to take money off Rishi Sunak and his wifes off-shore accounts to pay UK tax 🤔

Anonymous

To be fair only if fail pay taxes IE they seize your assets which now recognises Crypto as one of them. Overall of course other than on ramp, no point keeping on Exchanges.

Anonymous

Is etoro safe

Anonymous

Or just pay your taxes lol

Anonymous

As a tax payer - if you're not paying your taxes and buying crypto, they should be able to seize it.

Anonymous

Thanks for heads up, it’s being done to watch addresses, big brother hand in hand, article is obvious fear bait

Anonymous
>>108310990

Yeah so what if your taxes are being used for things u don’t agree with? It’s not black and white and no high ground for compliance with aiding murder and crime in name of every govt

Anonymous

Not sure if many read the article as it’s just for businesses not citizens, I see the need for the alert but maybe some more discernment first

Anonymous

His Majest Royal Crackdown?

Anonymous
>>108310990

Well that's the point. All control and privacy invasion policies are always put in a way that it either protects people or prevents crime, no? So then all you need to do is say "crypto is used for tax evasion and illicit activity" and voila! Seize everything from everyone that doesn't fit the current mainstream narrative. But the government and media would never say something which is not true, right? :). And just to prevent any misunderstanding, I'm not against paying taxes, but I am against brutal abuse of power by selected few just because it suits their political agendas (and hurts everyone else)

Anonymous

Pay your taxes .. but also take btc off exchange into cold storage

Anonymous
>>108310990

Vote or move - but I see you're OK now that you've read the article... seizing from businesses... got it!

Anonymous

I don't want to use exchanges at all anymore. Is microstrategy the way to stay in crypto via the stock exchange? I hold btc sol matic gala dot mana enj ftm grt. all down huge.

Anonymous

Even coinbase ?

Anonymous

Modern forms of tyrant and authoritarianism are emerging in the west. Some of these approaches using tech are far more worst than those in underdeveloped nations.