Crypto users keep hearing that America is becoming more crypto-friendly. But try moving serious money from Coinbase into a traditional bank account and see how friendly the system really feels. One of my clients transferred $1 million from Coinbase into a Citibank account. Citi rejected the transfer. Then they closed the entire account. Not a small account either. There was around $5 million sitting there. The bank mailed him a check for $5 million. Through the mail. - No discussion. - No warning. - No “let’s clear this up.” - Just goodbye. This is the part people miss about crypto debanking. Even if your activity is legal, banks may still treat crypto-related transfers as high risk. And if the compliance burden is too expensive, some banks would rather drop the customer than deal with the paperwork. So when politicians talk about ending debanking, that is a good start. But it does not solve the bigger issue. As long as crypto is treated like suspicious activity by default, crypto users are still not fully inside the financial system. They are tolerated. Until they become inconvenient. So here’s the question: If a bank can close your account for receiving money from Coinbase, do crypto users actually have financial freedom?

Congrats to the United States on winning their first game against Paraguay.

Saylor said he’d be buying the top forever. Strategy sells 32 bitcoin:native and everyone loses their minds. Then they buy 1,550 BTC the next week. Chill out. Stack sats. Enjoy your Friday. 🍻

🚨 IRS refund deadline: July 10, 2026. CryptoTaxAudit has already identified $2M in potential refunds for clients tied to COVID-era IRS penalty and interest issues. If you paid IRS penalties or interest for 2019–2022, we can help you file before the IRS keeps it. cryptotaxaudit.com/kwong-rul…

🚨If the IRS isn’t ready for 1099-DA, how exactly are crypto traders supposed to be??? The first year of crypto broker reporting is already looking rough, and Clinton says the IRS hasn’t even fully integrated it into its own transcript systems yet.

If the IRS can be weaponized, why does Washington keep giving it more power through a bigger, more complicated tax code?

If Americans live abroad and do not use U.S. services, should they still owe U.S. tax on worldwide income?

🚨No one is pushing the IRS to fix the 1099-DA. No one is raising the issues crypto taxpayers faced this filing season. No one, except CryptoTaxAudit. cryptotaxaudit.com/blog/cryp…

If crypto reporting rules are so complex that taxpayers and accountants cannot understand them, is the problem the taxpayer or the system?

Is capital gains tax punishing people for taking risk, investing early, and building wealth?

A rare look at CryptoTaxAudit dealing with the IRS.

If AI replaces millions of jobs, how does a government built on income tax survive?

🚨Clinton is sounding the alarm on the 1099-DA. A 1099-DA could be 50 pages long and still fail to tell you the number you actually need for your tax return. This is not simplification!!

Crypto divorce is ugly!! One spouse was the trader. The other spouse has no idea what wallets, exchanges, seed phrases, cost basis, or DeFi records even are. Now they’re supposed to split the assets fairly? The non-crypto spouse may assume there are hidden coins. The crypto spouse may say everything has been disclosed. Nobody trusts anybody. Then comes the tax problem. If crypto assets are split in the divorce, the cost basis follows the coins. So the spouse receiving crypto may also receive a future tax bill they do not understand. They might sell immediately. They might report it wrong. They might trigger capital gains. And if the IRS finds problems later, both sides could get dragged back into the mess. Taking cash instead of crypto is the cleaner divorce move. Would you accept crypto in a divorce settlement, or demand cash instead?

A crypto trader can make $600,000 in profit… and still show $150 million in proceeds. That difference matters. The IRS does not just look at your net gain. It also looks at Total Positive Income, meaning the gross proceeds before expenses or cost basis. So if your return only shows the $600K gain, but the IRS sees $150M in reported proceeds, that mismatch can put a target on your back. This is one of the biggest traps for high-frequency crypto traders. You might think you reported the “real profit.” The IRS may think you underreported the activity. Should crypto traders have to report every transaction, or should the IRS only care about the final profit?

🚨Safe tax is smart tax. Wrap your crypto return before the IRS starts asking questions. cryptotaxaudit.com/taxshield

The U.S. government built a beneficial ownership reporting system to find out who really owns LLCs and corporations. Then it largely backed off for U.S. companies and U.S. persons. Foreign companies registered in the U.S. may still have to report. But most domestic companies are now exempt. So here’s the question: If anonymous LLC ownership was such a massive money laundering risk, why did the government suddenly back off?

We're tired of winning, Mr. President

Crypto market this Friday 🎵 The Sound of Silence - Disturbed It's one of those days where you tune off and touch some grass. Happy Friday! 🍺

Imagine getting a letter from the IRS saying: “We have information that you may have had virtual currency transactions and may not have reported them correctly.” Is that a warning… or is that the IRS building the paper trail before an audit?