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In the most simplistic words, it means the company will require a resident director. So, if you have a company in Cyprus, you will also have to be a Cyprus tax resident, else, if you live in other EU country and have Cyprus company, the company will be considered a tax resident in the same country as you are. It's similar or basically the same as the current "CFC" rules, but at the moment, they often apply to companies-only, this "unshell directive" will apply to individuals, too. Also, if you get a nominee director in Cyprus, or appoint someone else to be a director of the company, **and** you use them as "proxies," it would still be considered a tax resident in your country where you live. Is it provable? I don't know, and I don't want to find out. The "unshell directive" is supposed to "crack down" on "aggressive" tax planning with the use of shell companies. You can read more about the EU "unshell directive" [here](https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2022)733648). **Again, I'm totally just a clown, so, this is for entertainment purposes only.**
tldr; The Consumer Federation of California (CFC) has sponsored a bill that seeks to license and regulate the activities of cryptocurrency exchanges. The bill was first introduced in 2022, but California Governor Gavin Newsom vetoed it. If passed, the bill will prohibit citizens from engaging with crypto businesses until certain criteria are met. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
> asset classes Bitcoin is seen as an asset class because the SEC and CFC say so. In reality it seems more an incorruptible/non inflatable ledger and that is all it functions as primarily. The next thing is it facilitates transfer of that ledger value almost instantly as final settlement between key holders. So it does act as a store of value and currency of exchange rolled into one. Quite the accomplishment! Authorities seem pathetic in their attempt to classify it as asset class and all other bullshit in order to bully plebs into paying taxes on their transactions in Bitcoin.
CFC = crypto financial carbons
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Technologies evolve. If you want crypto to be sustainable in the long term, you will welcome the shift that will be introduced by a ban on PoW towards more sustainable alternatives. Because environmental impact isn't really priced into the current economic system, the only way to introduce a virtuous direction in this respect is through regulatory action. Putting a carbon tax would achieve the same result (making it unprofitable to produce PoW crypto and therefore removing the mining operations), but politically we're not there yet. I don't really see how you can oppose a push towards more sustainable alternatives if not for your own personal gain. Do you just like waste? The CFC phaseout was staggered in order to allow critical supply chains to reorganize. People still needed fridges and air conditioning. There is no such immediate need with cryptocurrency.
Way to make wild assumptions about my motivations. Not everything is about money, you know that right? I don't give a shit about capital gains and banning POW would actually have very little effect on me. What I do care about however is the damage such a ban could have on the success of technologies that have a legitimate use case for POW. And if you're going to keep beating the CFC drum then are you saying that they should ban POW and then let it continue to be used until everyone has made the switch? Because that's what your "ban" on CFCs was. This sounds to me like an outright ban if technology, not a gradual shift to more efficient systems.
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Here's the difference between congress and the executive agencies. The executive agencies employ experts in their fields. Congress is a legislative body that, unfortunately, reflects on the intelligence of the people who elect them. They are not experts, and they are easily swayed by arguments made by false experts, especially if it will help them remain elected. Our country is full of examples of WHY we have these executive agencies. Take a look at the controversies over leaded gasoline, asbestos, acid rain, and CFC ozone depletion. Or even recent more examples of climate destabilization and COVID. If we had to wait for Congress to stop every dastardly thing corporations get up to most of us would probably be dead by now.
I got a couple of cans of the old CFC freon in my dad's old barn...
I drink organic, ethically sourced cola sold by one of the oldest workers co-operatives in the world. I'm lucky, their HQ is not far from me. But yep, that system Adam Smith came up with in 1776 is organised in such a way anyone can compete. As with CFC gases that were depleting the Ozone layer in the 80s which lead to consumers en masse moving to CFC free products, it's then the invisible hand of the market that dictates whether those old companies (and their shareholders) will hold any sway in the future. It's why Standard Oil is no longer the richest company in the world.
I got into Bitcoin before any MSM attention. All we had to go on then was the majority consensus of actual computer science experts. I had to read whitepapers and science journals to get my head around it. Andreas Antonopoulos (a computer scientist) hadn't even written the internet of money (which made it all accessible to the layman). Same with Ozone layer depletion in the 80s which had 90% consensus amongst climate scientists agreeing CFC gases were the cause. Had industry and ordinary people not trusted their expertise in the scientific method, today we'd have no Ozone layer and we'd all be wearing radiation suits due to UV exposure.
In times like that we go with majority consensus of experts. An example would be the 90% consensus scientists had around CFC gases depleting the Ozone layer in the 80s. Had industry and ordinary people not trusted their expertise in the scientific method, today we'd have no Ozone layer and we'd all be wearing radiation suits due to UV exposure.
In which cryptocurrency did you invest in? I also want to invest my money in different crypto projects. I found CoinField Coin (CFC) a while ago. Now I would like to invest there. I'm going to sign up there using [sign up](https://trade.coinfield.com/id/signup) link. LOL!
I always to find out something that think different and have good tendency. **CoinField Coin** (CFC) is that kind of coin you can try.
Give it a try **CoinField Coin** (CFC). The better thing is 10% is back to the local to support the agriculture.
Try for **Coin Field Coin** CFC. This one is new but limited in supply.
CoinField Coin (CFC) is doing well so far.
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