Rules are only as good as governments ability to enforce them.
How is tax enforcement implemented in practice on an asset where the government cannot prove ownership?
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One doesn't change overreach by lauching as long as they are not being caught.
They force you to be going dark with your money, how are your kids gonna spend it on something usefull like a house ?
I understand your basic reaction.
Me myself only came to these insights a few years ago.
And still by no way is there an easy solution.
But freedom never was nor will ever be for free.