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My Question on : Kraken Finance Gets Bank Charter.

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Bold N Italics
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So I read through the Blog at https://blog.kraken.com/post/6241/kraken-wyoming-first-digital-asset-bank/ dated September 16, 2020.

Source : A screenshot of the blog

The blog states the Karken has been granted approval for the world’s first Special Purpose Depository Institution (SPDI).

It also states that Karken Financial is now the first digital asset company in the U.S.

The following are a few extracts from the blog :

From paying bills and receiving salaries in cryptocurrency to incorporating digital assets into investment and trading portfolios, Kraken Financial will enable Kraken clients in the U.S. to bank seamlessly between digital assets and national currencies.

We anticipate supporting additional services over the next few years, including: Enhanced digital asset custody offerings Digital asset staking Trust account and administration Other services for individual accounts: A complete online and mobile banking suite of products A debit card that clients can use to spend their crypto funds Other services for corporate clients: Account management services Bank comfort letters Deposit verifications

  • Proof of funds attestations.

These lead to my Question being how will these digital assets be taxed if I get to store my crypto in a kind of saving account and spend it via debit card at a local POS? Also how will Crypto received as Salary and used for paying bills be considered from a tax perspective.

I’m new to the crypto space and still getting to learn how it works.

Posted Using LeoFinance