A friend of mine recently moved to Spain and became a tax resident there. He is not an EU citizen but has obtained residency in Spain.
He earns a decent income from his YouTube videos promoting crypto exchanges. His earnings are received in his crypto exchange account, where he has completed the KYC process.
He hasn't updated the KYC information to reflect his residency in Spain because it would prevent him from trading futures, which he relies on. If you're unaware, EU residents are generally restricted from trading futures.
The question is: will the crypto exchange report his income to his home country or to Spain? Well, it's not a broker, do they have the obligation to? I've heard that crypto exchanges report EU residents' income to their country of residency.
The concern is that he has accessed his Bybit account multiple times from a Spanish IP address. This might trigger Bybit to ask him to complete the KYC process again and explain why he's accessing the account using a Spanish IP. Binance once asked me to do that because I hadn't accessed my Binance account from my KYC country for 6 months or so.
He earns a decent income from his YouTube videos promoting crypto exchanges. His earnings are received in his crypto exchange account, where he has completed the KYC process.
He hasn't updated the KYC information to reflect his residency in Spain because it would prevent him from trading futures, which he relies on. If you're unaware, EU residents are generally restricted from trading futures.
The question is: will the crypto exchange report his income to his home country or to Spain? Well, it's not a broker, do they have the obligation to? I've heard that crypto exchanges report EU residents' income to their country of residency.
The concern is that he has accessed his Bybit account multiple times from a Spanish IP address. This might trigger Bybit to ask him to complete the KYC process again and explain why he's accessing the account using a Spanish IP. Binance once asked me to do that because I hadn't accessed my Binance account from my KYC country for 6 months or so.
