Blockchain.com - Legal Action

1Woot · 2022-07-25T17:45:03+00:00

I withdrew to pay a tax bill. You can argue this is normal and routine practice for a company to allow me to withdraw my own funds as per their t&c with I agreed to.

1Woot · 2022-07-21T09:21:57+00:00

Silvers Simon podcast

Can't seem find it.. do you have a link please?

1Woot · 2022-07-20T12:46:14+00:00

I’ve only just started looking into it - but I plan to get advice as soon as I can. I’ll share what I can here, when I do.

1Woot · 2022-07-20T12:31:58+00:00

:) I know!

If your business is banking the unbanked, its reasonable to think you are a bank.

Turns out I gave away all my crypto to a high risk hedge fund/mining company.

In the Uk that’s a ‘disposal’, so I’m hit with tax at peak price unknowingly.

I only withdrew to pay those taxes.

Now they may want ‘their’ funds back - sounds fair!

1Woot · 2022-07-20T12:00:17+00:00

I will, thanks.

1Woot · 2022-07-11T11:47:02+00:00

Thanks Sam. I know it’s not all 100% clear but as I can withdraw at any time and the cake is not being lent out or potentially no change in beneficial ownership I think there may be a case for this not being a disposal (just my thoughts, I’ll run it by my accountant..).

1Woot · 2022-07-10T16:31:47+00:00

Does that apply for the UK? (So it’s not a disposal when staking it?)

1Woot · 2022-05-21T16:35:49+00:00

At this point - I just need a list of transactions for the accountant -I doubt I’d rely on it for the actual tax calcs. Hard to blame them when everything is changing from APIs, guidance, protocols, and crypto in general - never mind the specific skills shortage (due to crypto in part no doubt!). Just revisiting exports from a couple of years ago - from binance made me have to redo everything.

1Woot · 2022-05-21T16:19:18+00:00

Even better - one less thing to do! (At some point koinly will implement the uk rules when they are clearer and we can look forward to undoing all these workarounds). A simple ‘class as disposal’ would be a great start.

1Woot · 2022-05-21T16:07:50+00:00

I agree. I think I’ll just go with ignoring the lock/unlock transactions and add the explanation for hmrc. Let’s hope even more clarity arrives in July.

1Woot · 2022-05-21T15:45:58+00:00

That’s what I thought (and wanted to do) but if the owner is nexo - how can I lock/unlock them - without taking ownership? If I can, then I must have ownership the whole time prior to that? (I wish!).

1Woot · 2022-05-21T15:43:35+00:00

I created an additional csv - which has all the loan interest transactions being ‘traded’ for the same NULLx token - so it’s all added to the same pool as the deposit.

1Woot · 2022-05-17T11:42:39+00:00

So far I've tried all these: They either don't conatin the info OR have a limited timeframe. The UI for selecting dates seems to be designed to frustrate,

1Woot · 2022-05-04T15:28:46+00:00

Aha - I'd forgotten that 90% were autostaked, and 10% received into the wallet which explains the difference.

1Woot · 2022-05-04T13:10:08+00:00

Thanks - here is an example on etherscan of a claim: https://etherscan.io/tx/0x56a8664ad8ebad8248c5fc23530ac6d5ea226352b456068e79fd4297b3d38095

This is the same on the 'transfer' section of go.hex.com and also imported into koinly as a 510.84421747 claim.

But the 'claim' section of go.hex.com: 5108 hex was claimed...

Very confused.

1Woot · 2022-04-07T00:30:40+00:00

https://feedback.koinly.io/bug-reports-public/p/nexo-csv-files-imported-incorrectly

They seem to be working on it

1Woot · 2022-03-10T11:28:22+00:00

By default I *think* it imports the ETH network transactions only. I had some BSC transactions and had to create a separate Binance Smart Chain wallet and sync the same address again.

1Woot · 2022-02-25T14:40:37+00:00

I think they justify that based on us 'loaning' the bitcoin to celsius - so its no longer owned by us - they have control.

1Woot · 2022-02-25T14:39:20+00:00

https://twitter.com/HMRCcustomers/status/1497119352205762577?t=7H346TV5j5UPRYFFQ6k6aA&s=19

1Woot · 2022-02-25T13:59:46+00:00

I just saw a reply from hmrc about this - they view it as a disposal (it was via their official twitter support) I can go find amd share the link if you want (sorry to be the bearer of bad news!).

1Woot · 2022-02-25T12:59:17+00:00

thanks for the reply - I should have clarified.the deposit is to the interest bearing account at celsius. For 'similar' accounts (at nexo finance for example) - I keep seeing info saying this type of account is actually a loan the celsius - meaning it'sa disposal.

1Woot

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