UAB Bitmarket / btc-exchange.com and CRS?

[Marie Manila]

Hello,

does anybody know, if btc-exchange.com does CRS reporting?
It is the connected crypto exchange of Mistertango. I red in this forum that Mistertango reported some people already.

So, if I cash out crypto there and transfer it to Mistertango, it will very likely get reported.

But what happens, if I keep the money in my Bitmarket Euro account?
Since Bitmarket is neither a bank nor an EMI, are they required to report under CRS?

 

[Martin Everson]

Don't tell me your still asking today after you basically asked the same question below back in October 2019...lol.

https://www.offshorecorptalk.com/threads/mister-tango-s**t-service.24832/post-109762
I would personally just ask MT directly.

 

[Marie Manila]

In 2019 I was quite sure, they won't report and I did not ask, if they report there.

But between 2019 and today, some people in this forum told they got reported by MT.

My question today is not about MT. It's about UAB Bitmarket. Even if they have the same owner, it is not the same company.

I hope some people, who got reported this or last year can answer the question, if only MT accounts were reported or also Bitmarket accounts were reported.

 

[Martin Everson]

Your focused on CRS but your first mistake is thinking that CRS is the only means governments have to gather data on what you hold abroad. Governments have been gathering data from crypto exchanges, card companies etc for years and I have discussed this years ago on this forum.


https://www.cryptodaily.co.uk/2020/10/hmrc-set-to-tax-and-coinbase-users

 

[Marie Manila]

Thanks a lot for your answer, Martin.
I know the governments can gather data about money held abroad.
This is not my main problem, honestly. Almost all my money is held abroad and all money is taxed properly in accordance with my tax residency laws. Also my money at Bitmarket.

I just want to make sure, that I do not raise any alarm bell at the tax man, because the balance on a singe account (like my bitmarket account) gets to high, for example.
I'd like to stay under the radar and avoid any unnecessary questions from the tax man.