And this is actually what happen right now. Legalization of the crypto in certain countries may lead the term of "taxes". It's just a matter of time when it will be announced regarding taxes for cryptocurrency. They may legalize crypto, especially Bitcoin, but we don't know, maybe behind it all, they are making decisions regarding more strict rules or taxes. Taxes are not trivial and they are sometimes very inconvenient. Even we in the crypto world want to avoid that, decentralized, but it turns out that we can't get it completely.
- I do believe the time when KYC and documentation was made essential for any existing wallets or any bitcoin related site , this was something that we already did predict.
That is why doing KYC is actually dllema (more to be harmful). If it si not a trusted or secure sites, it may be hacked or sold the data of the users. And f it is legal and under the government evaluation, does it mean that they know who are in charge in Bitcon and other cryptocurrency activities? Moreover right now, many local exchanges also obligate doig KYC beause it relates to the regulation in that country itself, We cannot avoid it if we are going to cash out our coin.
