Does Binance is CRS compliant and report in EU ?

[bizman]

Is someone aware of if Binance is CRS compliant and report EU account holders if they use their trading platform?

If so, what alternative trading platforms are there?

 

[Martin Everson]

CRS is not the real concern. If Binance follows Coinbase practice then it will be sharing information with tax offices that request data outside of CRS.

Some sites seem to suggest they do already share data but give no evidence. But best to ask Binance directly if your affected.

 

[diatessaron]

Kraken.

 

[bizman]

Kraken.

why do you post kraken, they do or do not report?

 

[diatessaron]

why do you post kraken, they do or do not report?

They do not.

 

[wellington]

Kraken is US based, just remember that, the DOJ loves going after low hanging fruit for tax evasion or providing the information to other countries in exchange for support on extraditions etc lol

As for Binance, they are throwing anyone and everyone under the bus, so CZ doesn't end up in the clink for all his prior activities or that of Binance.

 

[Supheli]

I asked Binance support 3 minutes ago ... they currently do no tax reporting for DE now. I asked if it is planned ... "not to soon, depends on regulatory in your region"

 

[johndunham]

Does it really matter what they tell you? I wouldn't trust any of these exchanges on their word, most are founded by shady people / semi-criminals. No, wouldn't trust Kraken neither.

 

[pipona]

Kraken is US based, just remember that, the DOJ loves going after low hanging fruit for tax evasion or providing the information to other countries in exchange for support on extraditions etc lol

As for Binance, they are throwing anyone and everyone under the bus, so CZ doesn't end up in the clink for all his prior activities or that of Binance.

probably should avoid Kraken and stick to offshore exchanges like Binance if you are at all worried about CRS

https://decrypt.co/93243/kraken-cannot-protect-you-from-canadian-government-freezing-crypto-ceo

 

[wellington]

probably should avoid Kraken and stick to offshore exchanges like Binance if you are at all worried about CRS

https://decrypt.co/93243/kraken-cannot-protect-you-from-canadian-government-freezing-crypto-ceo

Binance are bending over backwards as there's so many ongoing investigations and he doesn't want to get indicted... so actually under the table you can be certain data is being shared... also Offshore, in crypto doesn't appear to have the same pre-emptive rights/protections as offshore stocks, brokers etc, ergo, the US enforces its laws on overseas exchanges in crypto, whereas they do not enforce their laws on overseas traditional exchanges, brokers etc where american's buy from them, i.e a american buying stocks listed on the SET (Thailand), full under the jurisdiction of the SEC of Thailand, whereas an American buying on 'Satang' (Binance technically under some shell corps) falls under the SEC US jurisdiction, so IRS, etc

 

[zonez]

EU is tightening the rules regarding crypto. Just a matter of time before all the big guys will start reporting. Cold wallet and an anonymous virtual card attached to it will keep you out of sight

 

[AndyAresa]

EU is tightening the rules regarding crypto. Just a matter of time before all the big guys will start reporting. Cold wallet and an anonymous virtual card attached to it will keep you out of sight

what virtual card would you recommend for such setup?

 

[TheCryptoAnt]

what virtual card would you recommend for such setup?

https://www.offshorecorptalk.com/th...mi-and-bank-accounts-company-formation.31682/