Does any exchange such as Wirex, Bitpanda, Kraken report you? (AEOI, OECD)

[abc123]

I wonder;
1. Does any of these exchange or similar report your balance or transactions?
2. Under which circumstances would they release information about your holdings and transactions or earnings? What would be required?
Even if using the Visa card offered in the country you try to hide it from.

I am comparing to using services like tutanota och protonmail where it is extremely hard for governments to extract information.

 

[Martin Everson]

abc123 said:
1. Does any of these exchange or similar report your balance or transactions?
Click to expand...

Some do in certain situations like Coinbase but you need to check with each one. However it remains very unlikely in general.

abc123 said:
2. Under which circumstances would they release information about your holdings and transactions or earnings? What would be required?
Click to expand...

If asked by competent authority for information they will share it. Coinbase already does this for example with HMRC in UK.

https://decrypt.co/43716/coinbase-uk-to-disclose-wave-of-cryptocurrency-owners-to-hmrc

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[mrmrmanhuman]

abc123 said:
I wonder;
1. Does any of these exchange or similar report your balance or transactions?
2. Under which circumstances would they release information about your holdings and transactions or earnings? What would be required?
Even if using the Visa card offered in the country you try to hide it from.

I am comparing to using services like tutanota och protonmail where it is extremely hard for governments to extract information.
Click to expand...

NO not at the moment.

They may collect informaiton but i do not think any of them fall into the CRS / FATCA catetgories.

Which is why a new OECD framework is created to capture them into scope, this will likely take effect in 2025. Until such time then...

https://www.oecd.org/tax/exchange-o...endments-to-the-common-reporting-standard.htm