Converting USDT to Fiat, Questions on CRS

#2
Firstly, get your coins off the exchange.

And yes, under CARF it'll be reported (from 1 Jan, 2026) like bank accounts are with CRS (although a lot more detail is to be shared under CARF).

If you're wanting to spend those stables, why not get a crypto debit card?
 
Reactions: vehzag
#5
Never heard of CRS being applied to Crypto Exchanges.

Having said that, there's a strong surveillance apparatus since Binance was taken down (offshore) and strong (on-shore -> western).
 
Reactions: vehzag
#7
Ref CARF

JOINT STATEMENT BY: Armenia, Australia, Austria, Barbados, Belgium, Belize, Brazil, Bulgaria, Canada, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Netherlands, Norway, Portugal, Romania, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, the United Kingdom, and the United States of America; the Crown Dependencies of Guernsey, Jersey, and Isle of Man; and the United Kingdom’s Overseas Territories of the Cayman Islands and Gibraltar.

these are the countries.
So -> HK -> Taiwan (Merchant Bank) -> Canada Bank

Comes in as a Wire, your bank will report under CRS / and BSA equivalent but for all intense purposes its already in Fiat Land.


So if your intention is to not have CARF / CRS for stablecoins in general (why not sure?) it would advert that when CARF comes in via being outside of the net.
 
Reactions: Silverlake, vehzag and JosephLL
#10
aragon said:
Why do you say this? It's not possible to hold fiat in a crypto wallet, so holding fiat means risking bureaucrat wannabes at a bank. How is this a smaller risk than keeping stablecoins in self custody?
Click to expand...
Pacer search: Deltec. Also search in the forum, it has already been discussed in various occasions.
 
Reactions: aragon
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