Oh, you think they can't tax you?

They can tax all custodial Bitcoins.

The can tax all KYC self-custodial Bitcoins.

They can lock out all self-custodial KYC completly or demand a tax when offloading

They will demand VAT on any white market crypto transaction.

On top of that they'll use their holdings ~ 10% to fractionally reserve CEX destroying BTC price discovery for years to come.