News from our favorit Kraken.com (Non-CRS)

[Benzouser]

I did ask about CRS reporting today from support section at Kraken.com

: Reply was :


Hi there,

Thanks for reaching out.

We do not share information about your account with governments unless we are under a legal obligation to do so. For example, a lawful subpoena, warrant, or court order. See our privacy policy for more details.

Kraken is not responsible for determining whether taxes apply to your trades, or for collecting, reporting, withholding, or remitting any taxes arising from any trades.

It is the user's responsibility to determine what, if any, taxes apply to the trades you complete via our services, and to report and remit the correct tax to the appropriate tax authority.

Note that blockchain transactions leave a public and permanent trace and are only pseudo-anonymous. Most governments now have sophisticated blockchain analysis software to help identify tax avoidance, so it is important to do your taxes honestly.

Let us know if you have any other questions.

Warm Regards,
Aidan
Kraken Client Engagement

 

[JohnLocke]

Thank you for sharing the information and your reply from kraken. It's good news actually.

 

[tacokai]

After they got their license to be a crypto bank do you still think they are not reporting anything under the CRS ?

 

[boomy]

Yeah, let the noob believe they won't report and later the big surprise will come. I can already see the forum floated with reports.

 

[reini1860]

After they got their license to be a crypto bank do you still think they are not reporting anything under the CRS ?

Correct me if I am wrong. But Kraken got a Bank Lisence in U.S. And U.S. is not a part of CRS… So, they don’t report…

 

[tacokai]

Correct me if I am wrong. But Kraken got a Bank Lisence in U.S. And U.S. is not a part of CRS… So, they don’t report…

I don't it is that easy. The USA is still reporting to the EU just only per request us I understand. There are endless threads about it around here, I will have a read and reply if I find something.

 

[Paper Chaser]

I don't it is that easy. The USA is still reporting to the EU just only per request us I understand. There are endless threads about it around here, I will have a read and reply if I find something.

The USA would only report if it's a personal account. Corporation accounts won't be reported. This goes for bank accounts, so it should go for EMIs as well.

 

[FlyAway]

The USA would only report if it's a personal account. Corporation accounts won't be reported. This goes for bank accounts, so it should go for EMIs as well.

By corporation you also mean LLC?
Thanks

 

[Paper Chaser]

By corporation you also mean LLC?
Thanks

Any kind of corporation.