You are solely responsible for determining and reporting any tax obligations related to your stablecoin transfers. This may include gains, income, or other taxable events depending on your country’s laws.
Converting between USD and stablecoins (checking account to wallet or wallet to checking account) may be considered a taxable event in some jurisdictions, even though stablecoins are designed to maintain a 1:1 peg to USD.
Holding stablecoins in your wallet may also have tax reporting implications in your country of residence.
GrabrFi may provide transaction records to help with reporting, but it is your responsibility to file and comply with local tax requirements.
Always consult a qualified tax advisor if you’re unsure about your specific situation.