EU resident here. So I've just received this from poloniex and I have 6k of tether on that piece of shit exchange. How likely is it that I will be slapped with taxes if I comply with their request?
Fuckers didnt even issue a warning, so I see this as an outright racket.
Other urls found in this thread:
eur-lex.europa.eu
twitter.com
This kills the NEET
You can’t buy Monero after KYC?
You can't even verify. I tried and their automated system is shit. So you have to submit a support ticket which they won't respond to
this is why I GTFO there as soon as I heard circle was buying it and will never even log back in.
You can, but I'm afraid they (US tax authorities) will extort me for USD based on my polo trading history.
6k is a lot of money for me, but I'm contemplating whether its worth future trouble with these statist insects.
Then there's the fact your agencies know my identity anyway, because I didnt take any precautions. Even the email address contains my real name. So I might as well comply.
They announced that shit like six months ago. You've been living under a rock?
Sorry for your loss user
The SEC doesn't fuck around, now enjoy paying the taxes :)
>You can, but I'm afraid they (US tax authorities) will extort me for USD based on my polo trading history.
But you're from the EU, they aren't interested in your taxes.
I hear blowing up their twitter with your support ticket might help
Also it's 6k. You're not on anyone's radar.
w-what happens after the 14 days?
seriously though, there's gotta be people incapacitated for whatever reason that wont be able to comply in 14 days. What then?
Got the same email too. Nice. Either they steal your funds or they harvest your data. Never trust centralized exchanges.
Funds are safe
>lives in EU, scared of IRS.
user, I.......
They lied then. The claim was unverified accounts would be allowed to withdraw their funds.
Rout the neet rebels. They cannot be allowed to prosper, take over every exchange all funds are belong to us.
Brought to you by the overlords in Brussels, this is a result of directive 2015/849.
You can see the details and implications here:
eur-lex.europa.eu
This law introduces "customer due diligence" for all sorts of entities, crypto market places being one of them.
If you verify your ID to poloniex, there is a chance that the authorities of your state inquire about your activities (gains) on poloniex, which may or may not give rise to further investigation regarding taxes.
Some countries dont tax private capital gains, so if you are in one of those countries you dont need to worry.
And even if your country taxes private capital gains, provided that your gains arent stellar (excess of 50-100k?), the authorities might not deem it worth the effort to pursue "small fish".
I donno user, its a tough spot.
t. lawfag
Im not a tax expert, thats why I created the thread.
So I give them my ID, withdraw funds and never hear from them again? Shitty deal, but guess I take it rather than eat 6k loss.
Is Polo required to share this info with EU states based on some international treaty? It's a US exchange.
its not about the IRS, its about poloniex having to comply with EU customer due diligence rules because it is operating in the EU. once you give poloniex your ID details, they have to store it and hand it over to state authorities (e.g. the EU state of your residence) upon request.
I didn't receive any mails, maybe they are sending them basing on your IP?
I wonder if it means that I still have a chance to withdraw but I kinda don't wanna login now
Any other decentralized trading platforms similar to Bancor?. The idea of holding your crypto on a centralized exchange defeat the whole purpose of this movement when you think about.
>Is Polo required to share this info with EU states based on some international treaty?
Polo is required to hand over your info upon request to a state authority based on new EU law (directive 2015/849). The likelihood of that happening is a mystery to me.
While it is a US exchange, the fact that it operates in EU makes it required to comply with EU rules.
Sounds like your fucked
Then your funds will be safe forever, no one will be able to touch them - not even you.
Ok, thanks for clarification. In that case its most likely that nothing will happen after I withdraw in BTC.