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The original was posted on /r/monero by /u/IllCod1915 on 2024-06-23 19:00:24+00:00.

Imagine that Monero becomes more popular and businesses begin accepting Monero. Because the govt is not getting tax money, they decide to force businesses to either give up a proportion of their Monero profit as tax or shut them down or levy some other penalty. Could the government find out how much they actually owe by forcing business owners to open their wallets and prove their transaction history? Could business owners get around this by creating fake wallets and only putting in small amounts so they only get taxed a little bit? But then couldn’t the govt verify by checking the transaction history of the wallet? I am probably just a noob

Edit: can the govt also audit you by forcing you to do the same with your wallet and showing all the transactions in it? Or they can force your employer to provide transaction receipts when they pay you for example?