Bitcoin Forum

Since the new regulation of January 2023, EU customs has started to verify the loaded balance on paper wallets and coins.

Bitcoin is now considered to be currency, transport without declaration is illegal.

Items with a loaded value of above 1000 euro may be seized for unauthorised money transmission. This is why most makers actually should only load once the item is the the hands of the collector.

We've been asked to consult DHL and Dutch customs on how to check for these balances.

When shipping an item; even with correct declaration, be prepared for thorough checks.

Thanks for the heads up on the new regulations. Bitcoin unique nature does make things interesting. It's fascinating how, as one of my favorite bitcoiners pointed out, it's both nowhere and everywhere at the same time. I could create paper wallets with richest bitcoin public keys and sending them as postcards, but it's a challenge for customs to regulate something that exists in the digital realm and has no physical presence. Declarations might catch a snapshot, but by the time they check, the Bitcoin could have already moved elsewhere. It's a complex landscape, and it'll be interesting to see how regulations adapt to the decentralized nature of Bitcoin. What if I send these 'loaded' postcards to individuals in government or similar positions, using addresses and names I find in the yellow pages? Each of these postcards will contain a paper wallet with Bitcoin public keys, each with a balance of around 100 BTC or more. The postcard, with the loaded paper wallet, will be shipped so that the receiver covers the customs fees. I plan to send cards like this every day without a return address. How will they choose to handle this situation? I believe this is a novel approach, and they may be reluctant to acknowledge that this represents people's money, not fiat currency created out of thin air. Bitcoin is inherently uncontrollable. That's the essence of it. We cover the postal costs and escrow services – that should be sufficient. t looks like I am in the process of collecting information and inspiration for my new artwork.

Funny that a "loaded" items full value should be stated, yet no postal insurance will cover the digital value if lost/stolen....
double-edged satoshi.....

Government regulation =  double edged sword

Lol

Wow I didn't know that, where exactly can I find this new regulation? That is taking it to the next level for real and honestly none of their business. What if you were traveling or sending a letter with the seed phrase to a wallet what is the difference? Is that also illegal?  Will they also flag the items if they have anything crypto related in the description? Its probably best to be as vauge as possible, if they don't know how to check the funds and verify them due to being ill infomed what is stopping them from peeling any holograms off or damaging the notes/coins etc etc. Fly as low and as casual as possible without completely deviating from the truth to comply w/ regulation.

If you want to send or receive Bitcoin physically (and oversea), use a Satodime card: https://satochip.io/product/satodime
It's a small portable bearer Bitcoin card. Easy to load, to carry, to share. And very discreet.
It also has an "Ownership" mechanism that is pretty interesting: https://satochip.io/satodime-ownership-explained/

Thanks me later ;)

People actually correctly declare items when going through customs? seems like you are just asking for it to be stolen if you do.  -- full disclosure -- I don't ship overseas

Yeah  ::) that's mostly the reason why people wouldn't declare items, paper wallets etc.. can be sent as a normal postal letter, if it doesn't look anything shady and if you sent it during the right period there's a really small chance of getting "caught".

Sending items with DHL is asking for a declaration, they are serious in checking the packages.  I don't have the best experience with them (though this is only my side of the story).

Be safe people, as PreciousMetapsICT, it is somehow asking to get it stolen because there's no insurance...

every parcel coming into Europe by post from outside is opened and checked and VAT
and Duty applied.

The best that can be done is for the item to be tracked and insured.

This is a new step by the EU Customs to go verifying if an item is loaded is something else.

As polymerbit points out the best way to counter this is to load the item once it has been
received by the buyer.