We are guilty until proven innocent with the IRS. This is a gaping risk. If the FBI or JPMorgan wanted your bank accounts frozen they could secretly airdrop you $500k from an insider-manipulated token at 11:50pm on Dec 31, then dump on the coin on Jan 1st, leaving you with a $150k tax bill that you can’t counteract with the next years’ losses, all just bc your address was leaked or traceable to you. It should be fixed in crypto to where you need to approve a TX to receive it, so you can time it and/or prevent malicious airdrops/TXs (including spy deposits, dust amounts meant to link your address to automated software).

The unique nature of crypto that allows this is the 24H operation window, the visibility and traceability of addresses, and the fact that for the first time ever a stranger can deposit volatile assets in someone else’s name.

We should be more aware of this and voice this particular issue to our representatives and developers.

submitted by /u/ah-hum [link] [comments]r/CryptoCurrencyRead More

You might also be interested in reading True Correction Underway? Over $500 Million Exits Bitcoin ETFs — Coinshares.