How do you comply with compliance and reporting requirements? I would naively imagine that interacting with the financial system/fullfilling requirements for cross border payments etc. are still difficult when everyone is anonymous
Not saying you are doing something wrong but rather that I see a lot of applications in the wild that have to do with people imagining also a different regulatory landscape - which actually is a discussion to be had.
I transfer all my financial actions to my accountant who's reporting it while instructing me what I need to do further.
Compliance and reporting really differ from one country to another, and I'm not familiar with the US system (which I heard is one of the most strict). But as far as I checked (I'm not a lawyer, not an accountant and not an expert), where I live in the EU, compliance is something for legal entities (like, organizations, companies) and not for individuals like me.
[E: I take the last sentence back, it's a too general statement and I don't have the knowledge to make it. Thanks @hnhg for the comment]
I'm not sure that's the case. I'm no expert but I believe those entities exist in part to take liability away from us as individuals. It's my understanding that, for example, in certain cases of privacy and security regulation I would be personally liable as an individual without an entity to undertake it for me. This could change by country and entity type though, even in the EU.
You're probably right. I really wrote a too general remark, but actually meant specific things about my situation. I added a part now taking this general statement back.
Thanks. So pretty traditional in that respect - sounds like a nice example of getting both worlds to work. In my work I also see this kind of "non-maximalist" use cases as the more successful at the moment.
Not saying you are doing something wrong but rather that I see a lot of applications in the wild that have to do with people imagining also a different regulatory landscape - which actually is a discussion to be had.