RiderWhisper
Thu Jul 18 2024
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6 answers
1361
Is cryptocurrency a Public Ledger?
Could you elaborate on whether cryptocurrency functions as a public ledger? The term 'public ledger' suggests a transparent and accessible record of transactions, which is often associated with blockchain technology. Does cryptocurrency, specifically, operate on a blockchain that allows for the public scrutiny of all transactions? If so, how does this public ledgering mechanism contribute to the security and trustworthiness of cryptocurrency systems? And are there any privacy concerns or limitations that arise from this public ledger nature of cryptocurrency?
alexander_clark_designer
Fri Jun 07 2024
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7 answers
1343
Can the IRS see your crypto wallet?｜. Transactions are recorded on a public ledger, making them accessible to anyone, including government agencies. Centralized exchanges provide customer data, such as wallet addresses and personal information, to the IRS.Yes, Bitcoin and other cryptocurrencies can be traced
Could you clarify for me if the IRS has the capability to access my crypto wallet? I understand that crypto transactions are recorded on a public ledger, meaning they're accessible to anyone, including government entities. Additionally, does this mean that centralized exchanges share customer data, like wallet addresses and personal details, with the IRS? So, am I correct in assuming that Bitcoin and other cryptocurrencies can indeed be traced?
AzrilTaufani
Fri Jun 07 2024
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5 answers
1347
Can the IRS track your crypto?｜. Transactions are recorded on a public ledger, making them accessible to anyone, including government agencies. Centralized exchanges provide customer data, such as wallet addresses and personal information, to the IRS. Yes, Bitcoin and other cryptocurrencies can be traced
Could you please elaborate on the IRS's ability to track cryptocurrencies? Given that transactions are recorded on a public ledger, does this mean anyone, including government agencies, can access them? And how does the IRS obtain customer data like wallet addresses and personal information from centralized exchanges? Finally, is it true that Bitcoin and other cryptocurrencies can indeed be traced?
