I watched a Monaco Card advert on Youtube, its really trying to push it hard.
Anyway I wondering if people use the card when they make a purchase with ETH or BTC then won't they be converting from crypto world to real world and for many countries that means you are liable for capital gains? If so this card would be a nightmare for people to work out taxes later.
That's implying that there are people that will actually be paying capital gains tax on something like this. Even for most, not all, tax agencies, there's no point spending $1,200 investigating someone if there's maybe, at best, $1,000 in taxes they can get from them. While it is a nightmare to some extents, those who are liable for sizeable capital gains will likely factor something like this in.
It's hard to determine what kinds of effects this will have, especially since cryptos are mostly in a grey area (still) and not a lot of countries have details beyond "don't expect us to miss $5,000" to my knowledge.