In the end, as a non-US entity; how would the US even stop me from providing services to US companies in private? Well I have a US LLC now, but the moment they become serious about this it takes me a few weeks to incorporate in HK or SG.
In the end, as a non-US entity; how would the US even stop me from providing services to US companies in private? Well I have a US LLC now, but the moment they become serious about this it takes me a few weeks to incorporate in HK or SG.
The US government can even force non-US banks from other countries to report oversea US citizens' income to the IRS, what makes you think they don't have the power or enforcement method to stop US-based entities from working with you?
And I could just accept crypto to circumvent any actual regulation, of course that would not be the wording or advice on my service, I’d just disable bank and credit card payments for the US and allow Crypto payments only. That’s how a lot of Chinese and Russian services already operate and have so for over a decade.
Crypto would be convenient as I can even pay my inference in crypto and exchange it to cash at little to no scrutiny while still allowing it to be taxed.
Lawmakers can take into consideration how a law would be enforced (and good ones do), but they don't have to do this, and often do not. Being hard to implement or enforce is just simply not their problem to solve.
Now from a compliance standpoint -- the companies in the US who do business with you must follow what US law requires and if they don't, they can be fined or have the people responsible put into prison. And if people try to do it "in private" anyway, the law can simply require records to be produced.
Ultimately with any law, it comes down to:
* what exactly does the law require?
* how far are regulators willing to go to enforce it?