Crypto.com is reporting to crs?

[RedEvil1991]

I asked to crypto.com support they replied me they are not responsible for tax and they not report because is the customer that has to made it by himself..is this real? I saw when I bought bitcoin from them with credit card, the bank of crypto.com is situated in Malta. So I can use their card for spend money? They told me that their card are only prepaid not credit.

 

[smartchoice]

I asked to crypto.com support they replied me they are not responsible for tax and they not report because is the customer that has to made it by himself..is this real? I saw when I bought bitcoin from them with credit card, the bank of crypto.com is situated in Malta. So I can use their card for spend money? They told me that their card are only prepaid not credit.

crypto.com it s a company registered in Hong Kong, I use their cards for over a year, not a problem, only issue after you selling the crypto and transfer the funds on the card, you can't buy back crypto with this card or transfer the funds from the card...also because it's a prepaid card some time some small users don't accept transactions...but this is rare ... I use monthly to shopping, transport, buying stuff over the internet, etc...

 

[RedEvil1991]

crypto.com it s a company registered in Hong Kong, I use their cards for over a year, not a problem, only issue after you selling the crypto and transfer the funds on the card, you can't buy back crypto with this card or transfer the funds from the card...also because it's a prepaid card some time some small users don't accept transactions...but this is rare ... I use monthly to shopping, transport, buying stuff over the internet, etc...

So tax agency should not see if I don't declare bitcoin i bought with my credit card on crypto.com and if u use the prepaid card too?

 

[smartchoice]

So tax agency should not see if I don't declare bitcoin i bought with my credit card on crypto.com and if u use the prepaid card too?

theoretically, because the credit card company knows you bought bitcoin and it can report you depends on the amount, country, regulations, etc .., they don't know if you still have the crypto or not or its yours... I use the crypto bought with a credit card on ''trading'' and make x10-x100, etc times more and use with crypto cards ...so far no red flag for me... also I love it the crypto card 3% cashback to any transaction +Netflix -Spotify free every month

 

[Tr0nad0r]

Maybe is a good idea to check if the card issuer does report, this thread might be useful: Credit cards and CRS

For example, if you have a Crypto.com USD card the issuer is the Metropolitan Commercial Bank of NY.

 

[DerAufklaerer]

Update. For EUR ?

 

[smartchoice]

Payrnet Limited its the new issuer of the UK & EU card program, replacing Wirecard. . What it's funny on their website notice: https://thebanks.eu/emis/payrnet-354825

Operations with Cryptocurrencies​

No

PayrNet do not conduct operations with cryptocurrencies.

 

[wellington]

I asked to crypto.com support they replied me they are not responsible for tax and they not report because is the customer that has to made it by himself..is this real? I saw when I bought bitcoin from them with credit card, the bank of crypto.com is situated in Malta. So I can use their card for spend money? They told me that their card are only prepaid not credit.

They may not but your finances are likely segregated inside a bank that they bank through... and they do CRS -> similar to Advcash.