Cryptocurrency Q&A
Does Binance send info to IRS?
Does Binance send info to IRS?
Riccardo
Wed Oct 02 2024
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5 answers
1224
Hello there, I've been trading on Binance for some time now and I'm curious about their policies regarding tax reporting. Specifically, I'm wondering if Binance sends information about their users' transactions to the IRS, the tax agency in the United States. I understand that different countries have different regulations when it comes to cryptocurrency trading and taxation, but as a US resident, I'm particularly interested in knowing if Binance is compliant with IRS regulations. Can you shed some light on this matter? Thanks in advance!
5 answers
HanbokGlamourQueen
Fri Oct 04 2024
Cryptocurrency transactions that reach a specified threshold must be reported to the IRS by Binance US, as part of its commitment to maintaining regulatory compliance.
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Riccardo
Fri Oct 04 2024
As a reputable cryptocurrency exchange, BTCC offers a comprehensive suite of services to its users, including spot trading, futures trading, and cryptocurrency wallet services.
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Lorenzo
Fri Oct 04 2024
Binance US, a leading cryptocurrency exchange platform, is obligated to adhere to the tax reporting requirements of the Internal Revenue Service (IRS) in the United States.
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Nicola
Fri Oct 04 2024
These services enable users to securely buy, sell, and store various digital assets, facilitating seamless transactions within the cryptocurrency ecosystem.
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BlockchainBaronessGuard
Fri Oct 04 2024
This obligation stems from the IRS's efforts to enforce compliance and ensure accurate reporting of cryptocurrency-related income and transactions.
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