Binance, Exchanges

Does Binance US Report to IRS?

Binance US, the American arm of the world’s largest cryptocurrency exchange, does not currently report to the IRS. However, this may change in the future as the exchange continues to grow and expand its operations in the United States.

Binance US is a relatively new exchange, having only launched in September of 2019. The exchange is registered with FinCEN and is compliant with KYC/AML regulations.

However, at this time, Binance US does not report to the IRS.

This means that users of the exchange are not currently required to pay taxes on their cryptocurrency gains. However, it is important to note that this could change in the future as the exchange continues to grow and expand its operations in the United States.

As Binance US continues to grow, it is likely that the exchange will eventually start reporting to the IRS. This would require users of the exchange to pay taxes on their gains, but would also provide more clarity and certainty when it comes to crypto taxes in the United States.

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