I think that localbitcoins is doing CRS reporting, without proper informing us, for years now....
I really don't know from where this companies have the urge to catch us, to turn us over ... it's like some sort of provocation from them. They always to tell us in the face "yes, we do CRS reporting, save all the infos for the tax man" , no ... they will say they don't do it.
This is kind of unlawful as they never never us for any "tax residency" info, witch gives them the right to link you to your citizenship, not your residence.
Look what I found in their Privacy Policy
2.6.1 We process personal data to comply with our legal obligations in accordance with applicable legislation and orders of competent authorities. As a cryptocurrency exchange operating from Finland, we have legal obligations to for example identify our customers and to prevent money laundering and financing of terrorism. We also have a legal obligation to disclose some data to the authorities if ordered to do so.
2.6.2 This data is partly collected from the users themselves (such as formal identification data and biometric data) and partly from the use of our service (such as some data about the transactions).
2.6.3 The data used for these purposes includes:
2.6.4 This data is processed on the basis of our legal obligations. These obligations relate primarily to the know-your-customer and anti-money laundering and anti-terrorism financing legislation. Biometric data may also be processed on the basis of the processing being necessary for reasons of substantial public interest (including but not limited to preventing money laundering, terrorist financing and fraud). In some cases, we may also ask for your consent to the processing of biometric data.
I really don't know from where this companies have the urge to catch us, to turn us over ... it's like some sort of provocation from them. They always to tell us in the face "yes, we do CRS reporting, save all the infos for the tax man" , no ... they will say they don't do it.
This is kind of unlawful as they never never us for any "tax residency" info, witch gives them the right to link you to your citizenship, not your residence.
Look what I found in their Privacy Policy
2.6 Complying with our legal obligations
2.6.1 We process personal data to comply with our legal obligations in accordance with applicable legislation and orders of competent authorities. As a cryptocurrency exchange operating from Finland, we have legal obligations to for example identify our customers and to prevent money laundering and financing of terrorism. We also have a legal obligation to disclose some data to the authorities if ordered to do so.
2.6.2 This data is partly collected from the users themselves (such as formal identification data and biometric data) and partly from the use of our service (such as some data about the transactions).
2.6.3 The data used for these purposes includes:
- personal identification data and contact data, including
-
- formal identification data (full name, nationality, date of birth, social security number etc.);
- biometric data for identification purposes (video data and facial geometry data recorded during identity verification process);
- financial data (bank account details, tax identification data etc.);
- trade data (trade advertisement, trade value, currency, payment method, trade chat messages etc.);
- transaction data (wallet addresses, timestamps, currency amounts etc.).
2.6.4 This data is processed on the basis of our legal obligations. These obligations relate primarily to the know-your-customer and anti-money laundering and anti-terrorism financing legislation. Biometric data may also be processed on the basis of the processing being necessary for reasons of substantial public interest (including but not limited to preventing money laundering, terrorist financing and fraud). In some cases, we may also ask for your consent to the processing of biometric data.
