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Are cryptocurrency exchanges such as Coinbase, Kraken, Bistamp subject to CRS or FATCA?

Educate

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EducateActive RecruitAuthor
Joined
Nov 2017
Messages
357

#1

I am wondering if the cryptocurrency exchanges such as

Bitstamp (EU company),
Coinbase (US company),
Kraken (US company)

subjects in accordance to information sharing according to CRS and/or FATCA?

Meaning, if you have sold cryptocurrency and have FIAT (eur or usd) in these exchanges at end of year will this info get reported to respective jurisdiction of the client?

And if yes, how to avoid this? Will they report turnover as well? Anyone have experience?

negonHigh-Ranking Operative
Joined
Jun 2011
Messages
3,970

#2

The mentioned corporation have agreed to report and comply to International tax reporting standards. You need to use some of the anonymous services like blockchain or use darks / fake documents which works just fine with kraken and bitstamp. Not tested it on Coinbase yet.

EducateActive RecruitAuthor
Joined
Nov 2017
Messages
357

#3

auric said:

The mentioned corporation have agreed to report and comply to International tax reporting standards. You need to use some of the anonymous services like blockchain or use darks / fake documents which works just fine with kraken and bitstamp. Not tested it on Coinbase yet.

Could you link to info where they have agreed to report?

Darks are one way, but if you start having issues with account that has large sums, you might not recover the money.

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