Published on May 17th, 2018 | by bitcoin0
Bitfinex Begins Sharing Client Charge Information with Authorities
Bitfinex, an exchange famed for its opaque banking arrangements, has begun ordering its users to submit their tax details.
The platform, which is registered in the British Virgin Islands, a known tax haven, will retain this information and may share it with tax authorities in their customers’ jurisdiction.
Also read: Thailand Waives 7% VAT for Individual Cryptocurrency Investors
Bitfinex Wants Your Tax Details
In an email issued to a portion of its users, Bitfinex has outlined a new KYC policy.
The platform’s tax data gathering won’t stop there however: it notes that the BVI government “may then exchange that information with the tax authorities of the customer’s country of residence”.
Bitfinex Users Plan a Boycott
Predictably, a number of Bitfinex customers have stated their desire to boycott the platform and take their trading elsewhere.