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 been asked to consult DHL and Dutch customs on to check for these balances.
When shipping an item; even with corrected 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.
