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Can a store offer to load a gift card with crypto? How does it affect taxes?

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    Taxes for whom? The store, the person loading the card, or the person using the card? Does the card hold crypto, or is a conversion done at the time of purchase? This will depend on the country. Jan 23 at 19:05
  • @mhoran_psprep the customers in the US Jan 23 at 19:06
  • I think my question is why would a store offer a crypto gift card? Unless they charge for the service, they don't make any money. Other gift cards are purchased by the store at a discount from face value, which is covered by the issuing company's advertising budget. Unless someone is similarly willing to pay you to sell crypto, why would you bother?
    – keshlam
    Jan 24 at 17:58

1 Answer 1

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Can a store offer to load a gift card with crypto?

Of course.

How does it affect taxes?

Depends on the country's laws. In the US, crypto is treated as an asset, so any disposition would be a taxable event. That means that the customers would need to track their cost basis, report the disposition, and generally the gift card becomes just another electronic wallet.

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