[htormey]

Again, playing devils advocate, but plenty of cash heavy small businesses (bars, restaurants, laundry services) keep things off the books to avoid taxes and get away with it. So why would this be any different with crypto?

Instead of a shoebox or an off-site safe you would just use a wallet and deposit crypto into that. The crypto could be purchased using something like localmonero or anonymously deposited by a friend who you give cash to.

Crypto currencies like monero have built in privacy so it’s possible to have anonymous transactions where it’s hard for police to trace the origins:

https://www.monero.how/why-monero-vs-bitcoin

It’s also possible to obtain monero without going through a bank or showing identification (as mentioned above):

https://localmonero.co

Now I’m sure some people will be caught doing stuff like this in the same way that some people get caught today avoiding paying taxes. My point is that it’s possible to do and it’s likely going to get easier to do.

The big change with crypto is that it makes it much easier to do the above and move it across borders. It will be interesting to see how governments try to restrict this.