MultiversX Tracker is Live!

I`m confusd - Trading on Bianace.com as a US resident

Binance

Cryptocoins Exchanges / Binance 279 Views

So I'm a US Resident paying taxes in the US.

Binanace.us don't offer much coins, so what I did is: opened an account on Binanace.com using my European Citizenship and then transferred some USD from my US Coinbase account to my Binanace.com account.

Now - I want to withdraw my profits to my Bank of America in the US.

So this is what I do: Sending my funds from my Binance.com to my Coinbase US account and from there to my Bank of America as USD.

Now please, bear with me :) lol...

From IRS stand of point: I know I need to pay taxes on my profit which is fine (I guess lol) but - as a US resident I'm not allowed to trade on Binanace.com... so I made the profits there - it won't cause me some problems when IRS will check my transactions? Wouldn't they say that I broke the law by trading as a US resident on the forbidden Binanace.com?

Please help,

Thanks.

submitted by /u/BufiRed
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments