All of the legit Bitcoin-to-cash orgs will report that to the IRS, and then you'... | Hacker News

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		kstrauser on April 30, 2024 \| parent \| context \| favorite \| on: US drug control agency will move to reclassify mar... All of the legit Bitcoin-to-cash orgs will report that to the IRS, and then you're back to square one: what do you do with that wad of cash? Orgs that don't report to the IRS probably aren't giving you a good exchange rate, and you're still left holding the bag afterward. If you're going through all that hassle, it's much easier just to be a cash-only business in the first place.

AnthonyMouse on April 30, 2024 [–]

> you're back to square one: what do you do with that wad of cash?

Keep it in a safe somewhere undisclosed instead of a retail storefront everybody knows is holding a ton of cash, or spend it.

The point is that it moves the cash from the publicly visible location to somewhere nobody knows to rob.

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