Binance, one of the world’s largest cryptocurrency exchanges, does not currently give out 1099 forms to its US-based customers. This is likely because the exchange is not required to do so under US law.
However, this may change in the future if Binance decides to expand its operations into the US.
At the moment, Binance only provides 1099 forms to its institutional investors. This is because these investors are required by law to report their cryptocurrency gains and losses on their taxes.
However, for individual investors, Binance is not currently required to give out 1099 forms.
This means that if you are a US-based customer of Binance, you will not receive a 1099 form from the exchange. However, this does not mean that you are not required to report your gains and losses from your trading on Binance.
You will still need to report your gains and losses on your taxes, even if you do not receive a 1099 form from Binance.
The bottom line is that at the moment, Binance does not give out 1099 forms to its US-based customers. However, this may change in the future if Binance decides to expand its operations into the US.
Until then, individual investors will still need to report their gains and losses from their trading on Binance on their taxes.