[nebezb]

The lack of comparable regulation isn’t a good argument for (or against) regulation. All regulation was born at some point. It’s not all-or-nothing.

You example about trading equities (gifting? sharing?) is wrong. You owe tax on trading your stock for another stock. Even if you circumvent a broker and deal in literal certificates. This is a disposition in the eyes of every major tax authority. There are very few exceptions (rollovers or corporate reorganization are some examples). Difficulty in calculating the FMV of the disposition is entirely your problem.