PSA: Crypto let me send cash to a pal in a place with money controls, easy.

Elliotm57 gets it, the $600 limit covers most small transfers.

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Funny how everyone skips the part where your friend now has to explain a random crypto wallet to their local tax people. That compliance headache just got transferred.

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elliotm577mo ago

The IRS only requires reporting for crypto gifts over $600. Most people never hit that limit with random wallets. It's not the tax apocalypse some are predicting.

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lisacarter7mo ago

Actually depends where your pal lives. Their local rules on crypto gifts might be way stricter than IRS limits. That's the real headache for them.

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