🚨NEW: HOW AN INTERNATIONAL TAX ENFORCEMENT GROUP DESPERATELY TRIES TO SELL YOU MORE SURVEILLANCE
The J5 says cryptocurrency services pose a systemic risk to the financial system – by drastically misrepresenting what suspicious activity reports (SARs) actually do.
According to the reports, OTC desks and cryptocurrency service providers have seen a sharp increase in SARs filings since 2015, so even more surveillance is needed to root out the potential use of cryptocurrency for tax evasion, money laundering, and terrorist financing.
What the reports omit is that SARs in no way indicate crime. In fact, the vast, vast majority of reports filed with regulators are of innocent people and innocuous transactions.
US financial institutions file upward of 30 million reports on customers every year, and for those efforts, government agencies have fewer than 400 criminal investigations to show for.
That is trillions of dollars of transactions surveilled, and millions of reports filed, resulting in only a few hundred criminal investigations.
The problem, apparently, is not that the overbearing system fails, but that not everyone is inside it… yet.
🔗 Full story:
https://www.therage.co/tax-crypto-risk/
npub12a…gn3wz
2026-02-25 12:13:59 CET
Author Public Key
npub12apcw0ak27qxdnc3gz5ax83k3766hp9l326fqle055xsat24clqqcgn3wzSeen on
wss://nos.lolPublished at
2026-02-25 12:13:59 CETEvent JSON
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"content": "🚨NEW: HOW AN INTERNATIONAL TAX ENFORCEMENT GROUP DESPERATELY TRIES TO SELL YOU MORE SURVEILLANCE\n\nThe J5 says cryptocurrency services pose a systemic risk to the financial system – by drastically misrepresenting what suspicious activity reports (SARs) actually do.\n\nAccording to the reports, OTC desks and cryptocurrency service providers have seen a sharp increase in SARs filings since 2015, so even more surveillance is needed to root out the potential use of cryptocurrency for tax evasion, money laundering, and terrorist financing.\n\nWhat the reports omit is that SARs in no way indicate crime. In fact, the vast, vast majority of reports filed with regulators are of innocent people and innocuous transactions.\n\nUS financial institutions file upward of 30 million reports on customers every year, and for those efforts, government agencies have fewer than 400 criminal investigations to show for.\n\nThat is trillions of dollars of transactions surveilled, and millions of reports filed, resulting in only a few hundred criminal investigations. \n\nThe problem, apparently, is not that the overbearing system fails, but that not everyone is inside it… yet.\n\n🔗 Full story:\n\nhttps://www.therage.co/tax-crypto-risk/",
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