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Your crypto still needs to be declared, even if you hold the keys. Not doing that breaks all kinds of laws and makes you jail-able.

Sure, you can hope the state won't find out about your crypto, but then how do you enjoy it?

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Specifically for a refugee, at least with crypto you have the possibility to declare your assets in your destination, since you actually still hold on to them. Which is unlikely if it is tied to banks or investment platforms of an authoritarian country trying to genocide you. I understand this sounds like a fringe example but there are over 100 million forcibly displaced people globally.

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