Yes. If you earned at least $600 through staking or Learn and Earn rewards, Binance.US issues 1099-MISCs and reports to the IRS . These kinds of incomes are classified as ordinary income.
Read moreWhy is Binance being banned?
Financial watchdogs around the world have placed Binance under scrutiny in recent months, citing concerns over the use of cryptocurrencies in money laundering and the high-risk nature of its products .
Read moreIs using Binance illegal?
elsewhere, as well as which states Binance.US is allowed to operate in. United States users cannot buy crypto using the international Binance platform .28 Şub 2022
Read moreIs it illegal to use Binance with a VPN?
Yes, it’s perfectly legal to use a VPN with Binance . However, you should bear in mind that Binance is banned in the US. Therefore, using a VPN to access it while you’re in the US goes against Binance’s Terms of Service. If Binance detects that you’re using a VPN, it might ban you from the site.
Read moreWhere is Binance legal?
The option to use the third-party digital wallet, Trust Wallet. Users in over 180 countries can trade on Binance, but only 43 states can use Binance.US, excluding Connecticut, Hawaii, New York, Texas, Vermont, Idaho, and Louisiana .
Read moreWhat happens if I use Binance in the US?
You can access Binance from the US with a VPN. When you connect to a VPN, it assigns you a new IP address and you appear to be in the permitted region. It’s important to note that Binance states it’s against the terms of use for US residents to access it using a VPN, so there’s a risk your account may be suspended .
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