Taxation of crypto bank cards

[Samus]

Hey there! Do you know anything about taxation of crypto bank cards? As far as I understand tax authorities don't know who make transactions with cryptocurrencies but what about crypto bank cards?

 

[Sols]

Crypto bank cards are just regular bank cards denominated in a fiat currency. If your name is on the card, you can be tracked and found.

The only thing "crypto" about it is that someone is converting crypto to fiat on one end and using that to pay for your card transaction.

 

[Clip]

They don't report automatically to the tax office, but if they want to trace you they only need to ask. If the cards are registered outside EEA, it's harder for the tax office to request your data, but if you are involved in some criminal investigation they will report you in a minute.

 

[Skadevolder]

They don't report automatically to the tax office

Yet..There is talks that CRS information should be interpreted to include Crypto aswell. If it wont, EU already has legislation in the DAC7 pipeline.

 

[Clip]

Yet..There is talks that CRS information should be interpreted to include Crypto aswell. If it wont, EU already has legislation in the DAC7 pipeline.

Soon they will include taxes for breathing oxygen