Post A38SoX0WdvgcyCTIBs by zechendorf@bitcoinhackers.org
 (DIR) More posts by zechendorf@bitcoinhackers.org
 (DIR) Post #A38NK0KN59aP9mNWPA by waxwing@x0f.org
       2021-01-11T16:47:15Z
       
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       https://www.thetimes.co.uk/article/bitcoin-holders-barred-from-depositing-profits-in-uk-banks-pgswbfrdzi didn't get past paywall going via google here so didn't read the whole article, but .. is that headline for real? Complete ban on wiring from exchanges#banks #bitcoin #uk
       
 (DIR) Post #A38NK0nnJl7cd291Ga by pete@mastodon.petertodd.org
       2021-01-11T16:58:03Z
       
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       @waxwing Wouldn't surprise me... We really need common carrier laws to force entities like banks to accept all business without a court order mandating otherwise. Plenty of historical precedent in similar laws in the past with stuff like phone service and postal mail.
       
 (DIR) Post #A38O3AIOrpij6UzU4O by waxwing@x0f.org
       2021-01-11T17:06:13Z
       
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       @pete i mean i guess.here's an interesting one: how are you supposed to pay the capital gains tax you owe on trades, if you're not allowed to wire money out of the exchange? Does HMRC have an account at Coinbase and Bitfinex and whatnot? Should we pay them in BTC? 😂
       
 (DIR) Post #A38OqQa36sTHncjha4 by pete@mastodon.petertodd.org
       2021-01-11T17:15:09Z
       
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       @waxwing IIRC that exact argument was used successfully in a lawsuit in Israel to force banks to accept wire transfers from Bitcoin exchanges.
       
 (DIR) Post #A38SoX0WdvgcyCTIBs by zechendorf@bitcoinhackers.org
       2021-01-11T17:54:07Z
       
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       @waxwing @pete additionally I would argue that it's not *real* profits if you can't use it. It's like monopoly money at that point.
       
 (DIR) Post #A38SoXNZGG7O7fFh6e by pete@mastodon.petertodd.org
       2021-01-11T17:59:36Z
       
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       @zechendorf @waxwing Sane jurisdictions only require you to pay tax when you sell; not all jurisdictions are sane. Here in Canada there are actually edge cases with how stock options are treated that end up causing consultants to go bankrupt because you can be required to pay taxes on options that are literally impossible to sell, at valuations that are unrealistic. Found that out working for a startup.