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RE: The blockchain network effect of familiarity and a prediction of future value
Nearly all western countries have this type of stupid regulations in place.
But even the fucked up tax system notwithstanding, trading is a losing game for nearly everyone involved. Doing the hard work of researching carefully what one is getting into beforehand and then holding is the right strategy.
The beforehand is a challenge because most of the crypto world is marketing fluff and will never amount to anything.