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DAC-8 now in EU, Solutions?

#9
intheclub said:
Seems to me you are afraid of reporting.
The solution is simple. Buy your crypto p2p for cash and store it on a hardware wallet. If your aim is trading use a broker without kyc or use an account verified by someone else.
Click to expand...
The problem with FIAT deposits is that the money must come from the same account holder. I do not believe that the family name is sufficient.

I see Paxful = P2P
Bank Tranfers, Wise

Only BTC Wihdrw to external wallet (hardware9 for 0.0004 BTC
 
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#10
DerAufklaerer said:
The problem with FIAT deposits is that the money must come from the same account holder. I do not believe that the family name is sufficient.

I see Paxful = P2P
Bank Tranfers, Wise

Only BTC Wihdrw to external wallet (hardware9 for 0.0004 BTC
Click to expand...
You don't deposit using FIAT. Only crypto deposits which you bought through p2p channels in person using cash. Buying your crypto sending cash by mail is another option but it's more expensive and less safe.
 
#15
GrumpyMess said:
When you think it can't get any worse, it can
Click to expand...
F6fNagwXQAAwmzH.jpeg


DerAufklaerer said:
I need solutions for 5k eur Invest in btc
Click to expand...

you are drowning in a glass of water brother, 5keks is not the amount of money to be thinking on trying to finesse the German tax office.

If you are so inclined to finesse them you can DM me and I'll give you some solutions.
 
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#17
DerAufklaerer said:
All CH
Pocketbitcoin
Relai
and This

is KYC LIGHT. They have also your IBAN and Name
Click to expand...
Don't you have anyone you do business with overseas (as in EXCLUDING the "West" & 14 eyes) who can buy whatever you want (with legit money: Re-introduce crypto gains to brick and mortar fiat bank ), obfuscate its origin and destination, and then send it to you on your hardware wallet or just put it on a hardware wallet and give you the hardware wallet (e.g. a Trezor?)?????

If the answer is "no", then it's best you not get involved in this business. It's too risky for you. :rolleyes: It would be best to build good contacts and networks who become your decentralized "army". ;) That is when trustworthy contacts/friendships with Russians and Chinese come in handy! :cool:
 
#18
ccording to Cointelegraph: Malta's Financial Services Authority (MFSA) has initiated a public consultation to revise its existing crypto regulations, aligning them with Europe's Markets in Crypto-Assets (MiCA) regulations. The public consultation will run until September 29, and MiCA regulations will come into effect from December 2024.
The new proposed rulebook suggests amendments to the rules for exchanges, custodians, and portfolio managers to bring them in line with the EU’s MiCA. This is consistent with the approach of other EU nations, including France, to align their regulations with MiCA.
Notably, the proposed changes include:
1. Removing the systems audit requirement for Virtual Financial Assets (VFA) license holders.
2. Reducing capital requirements for Class 3 and 4 license holders to $133,000 and $159,000 respectively.
3. Removing the professional indemnity insurance requirement.
4. Updating the outsourcing requirements in line with MiCA.
5. Incorporating the service-specific rules of MiCA into the VFA rulebook, which will impact exchanges, order execution, and client suitability.
Also, the requirements relating to client categorization and the requirement for a Risk Management and Internal Capital Adequacy Assessment Report have been removed.
The MFSA believes that making early adjustments to their existing crypto regulations will allow VFA license holders to smoothly transition to MiCA-based laws and obtain an EU license. Besides Malta, France is another EU nation that has adjusted its existing regulatory guidelines for crypto to comply with MiCA.
Disclaimer: Includes third-party opinions. No financial advice. See T&Cs.

www.binance.com

Malta Revises Crypto Rules in Alignment with EU's MiCA regulations

According to Cointelegraph: Malta's Financial Services Authority (MFSA) has initiated a public consultation to revise its existing crypto regulations, aligning them with Europe's Markets in Crypto-a*s
www.binance.com www.binance.com
 
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#19
DerAufklaerer said:
Has DAC-8 now come into force in the EU?
Reporting crypto holdings to the German tax office from 2026 ?

I was actually planning to buy and hold crypto on a German or EU exchange.
Click to expand...
Yes, and it's not only in the EU but in many other countries as well. It's called the Crypto-Asset Reporting Framework (CARF).
The rules will require Crypto-Asset Service Providers (CASPs) to collect information on users, including individuals' tax residences and tax identification numbers, and report that information to their domestic tax authority. Tax authorities will then exchange that information between themselves to assist with tax compliance, assessment and monitoring.

CARF is more difficult to avoid than CRS, but it is still possible to avoid reporting using the right structure, which will be excluded from reporting (structuring the entity as managed from a CARF non-participating jurisdiction can be the answer).

If your crypto is held by an entity which is non-participating; in such case, there will be no reporting by the CASP.


New EU decision means an end to crypto self-custody and summons total control

What is changing: From the end of 2024, new EU regulations will take effect, which will primarily affect crypto-asset service providers (CASPs).
They will have to carry out comprehensive customer checks for transactions with a value of 1,000 euros or more: Customer data such as name and address as well as the origin of the money, including receipts, will then be mandatory.


Time for crypto cash out - move your crypto to a non-reportable structure!
 
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#20
I have Accounts on

Binance (Malta EU ?)
Kraken (EU/USA
Bitget (Signatpur)
KuCoin (Offshore)
Bitfinex (Offshore)
Pionex (Signapur)
Bitstamp (EU/UK)

All with KYC, but not all with address confirmation, only ID card and face photo.

I am considering having some accounts deleted or deactivated due to the expected new EU laws ?

Not all that easy

However, I have decided not to register an EU or German stock exchange like
Bitvavo
BDSEX or Bison
 
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