What are the credit reporting policies of Cash App for cryptocurrency transactions?

3 answers

• Jan 11, 2022 · 3 years ago
  Cash App follows strict credit reporting policies for cryptocurrency transactions. When users engage in cryptocurrency transactions on Cash App, the platform does not directly report these transactions to credit bureaus. This means that your cryptocurrency transactions on Cash App will not impact your credit score or credit history. However, it's important to note that Cash App may still collect and use your transaction data for internal purposes, such as fraud prevention and compliance with legal requirements. So while your credit score may not be affected, it's always a good idea to be cautious and ensure you are complying with any applicable tax or regulatory obligations.
  683342
• Jan 11, 2022 · 3 years ago
  When it comes to credit reporting for cryptocurrency transactions, Cash App takes a hands-off approach. They do not report these transactions to credit bureaus, so your credit score will not be impacted by your cryptocurrency activities on Cash App. However, it's worth mentioning that Cash App may still collect and analyze your transaction data for their own internal purposes. This is mainly done to ensure the security and integrity of their platform, as well as to comply with any legal or regulatory requirements. So while your credit score remains unaffected, it's always important to stay informed about any tax or regulatory obligations related to your cryptocurrency transactions.
  690230
• Jan 11, 2022 · 3 years ago
  As a third-party expert, I can confirm that Cash App has a clear credit reporting policy for cryptocurrency transactions. Unlike some other platforms, Cash App does not report these transactions to credit bureaus. This means that your credit score will not be impacted by your cryptocurrency activities on Cash App. However, it's important to note that Cash App may still collect and analyze your transaction data for internal purposes, such as fraud prevention and compliance with legal requirements. So while your credit score remains unaffected, it's always a good idea to stay informed about any tax or regulatory obligations related to your cryptocurrency transactions.
  674169