CARF / OTC Desks / Reportable transactions

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lili247

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Dec 9, 2024
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#1
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As far as I understand, under CARF, crypto exchanges will essentially have to report most crypto transactions.

How is it going to work with OTC providers?

For example, suppose I use Kraken OTC to swap some BTC for ETH. Instead of depositing the BTC into my Kraken account first, I use their feature where no prior deposit is required. In this case, I simply inform them that I want to execute the trade at a specified rate, transfer the BTC to their address within the next 24 hours, and then they send the ETH to my address.

Would this type of transaction be considered a reportable crypto transaction under CARF?
 
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#4
The major platforms like Kraken do report users.

For OTC exchanges, it depends on their specific licenses and jurisdictions. I can recommend an OTC desk with various licenses—some within the EU that technically have reporting obligations but with a lazy MLRO that sometimes forgets to report, and others outside the EU with both EU and US payment rails that don’t report at all. This is a sensitive matter, so I won’t share details here—feel free to DM me if needed.
 
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#5
please recommend, especially the ones working with swift, can't dm you
 
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