If you built a custom wallet and act as your own provider, CARF likely wouldn’t apply to you directly. CARF targets Reporting Crypto-Asset Service Providers, such as exchanges and third-party wallet providers, not individuals managing their own wallets.
However, any interaction with a CARF-covered entity (e.g., sending funds to an exchange) would still be reported by that entity. You may still be required to self-report your transactions and holdings to comply with tax laws in your country.
While CARF doesn’t currently target self-hosted wallets, I believe regulators could look to close gaps.
Susie / Susie Violet
npub1hw…503sg
2024-11-24 12:26:12
in reply to nevent1q…nnq4
Author Public Key
npub1hwgw0uznr49t4gullpgfz4m5xnakl5a0l88m3k382xv7ys0tfmlsd503sgPublished at
2024-11-24 12:26:12Event JSON
{
"id": "98b6fa899baf60a5fe171b6d3227c8629b895435113c3736afe9a5dd109e49c6",
"pubkey": "bb90e7f0531d4abaa39ff85091577434fb6fd3aff9cfb8da275199e241eb4eff",
"created_at": 1732451172,
"kind": 1,
"tags": [
[
"e",
"0545aee48b4bde9fce4ee864ffdbdf76f95545c7079160917b53fe41d0669032",
"",
"root"
],
[
"e",
"ee0412e7eef8d50f0ad6014223bdfadb853a995be25d09b52e2c3d537dcea3fb",
"",
"reply"
],
[
"p",
"8158c3897d607816e5961fe0c1a8e9bf07a4d71aeecceed79be7af007ab23039"
]
],
"content": "If you built a custom wallet and act as your own provider, CARF likely wouldn’t apply to you directly. CARF targets Reporting Crypto-Asset Service Providers, such as exchanges and third-party wallet providers, not individuals managing their own wallets.\n\nHowever, any interaction with a CARF-covered entity (e.g., sending funds to an exchange) would still be reported by that entity. You may still be required to self-report your transactions and holdings to comply with tax laws in your country.\n\nWhile CARF doesn’t currently target self-hosted wallets, I believe regulators could look to close gaps.",
"sig": "b08542ba59d7a51b673adee86f8dafedff8277d4b5816c4b7d3e02ad62985282e42dd49b34ad89a92938ff61823d50d373f855c6946b9a5bb153db21b648bf91"
}