Just letting ya know discord. NFTs will soon require SSIDs being traded if you integrate them

Soulshield

As soon as the infrastructure bill is passed by the the president, NFTs and all crypto currency have to be reported to the IRS upon when the transaction total is above 10K USD.

Meaning if you add Crypto and NFT integration you will have to get SSIDs transferred on your platform and risk any data breaches now including SSIDs.

Oh and also Crypto ID wallets would no longer be unknown so any transactions on that wallet that could be traced back to scams and illegal ARE IN FULL VIEW FOR THE IRS

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  • Kelsey

    Which most of us "luddites" are proud of, even if it's the IRS who wins, discord and etherium/nfts don't need to exist

    4
  • Gol

    This regulation won't go into effect for 3 years, and it's highly unlikely that it will touch discord when it does. 

    -8
  • Soulshield

    But then why add it now and not wait until this is added when they know it can be safe?

    In 3 years time they would know if this shit is actually going to be around to stay or not and prepare accordingly for the IRS stuff.

    If they add it now, then NFTs go down in flames, they look stupid especially with all the backlash. and then they got that hurdle of the IRS down the line. with EVEN MORE security concerns.

    because the backlash so far has been more overwhelmingly negative than positive.

    4
  • Cormorants

    Essentially, even if you believe the bs about nfts being made more renewable soon - they won't be - investing before seeing how this shakes out is like asking to be paid in fairy gold while it is turning back into leaves and mulch in front of you.

    6

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