Nano has currently no built in privacy. How will this be addressed?

True, but in most cases it's not up to you to make that assessment. The tax authority will make that assessment and can only do so, if they know about the transactions.
Not reporting transactions can cause serious trouble. It's not as simple as it seems.

...that tax authorities are dumb.

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There's simply no way to prove that a wallet is yours

For most countries it is a reportable event. For some countries there is a threshold of purchases below which they’re not interested, but some that isn’t the case.
You will need a means of keeping track of profit and losses for most transactions in countries such as these.

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I had an suggested for a Wasabi like system but it wasn't very well received sadly. Read more about it here: https://www.reddit.com/r/nanocurrency/comments/dauyts/trustless_mixing_like_wasabi_wallet/

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Plasma power didn’t think it was a bad idea. We’re there any other concerns?

Posted this on Discord, but here's a potentially relevant IEEE submitted paper on adding privacy to Nano:
"A tool for implementing privacy in Nano"

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