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 moreWhy is Binance banned in the US?
United States However, it is banned in seven states. In May 2021, Bloomberg News reported that Binance was under investigation by the United States Department of Justice and Internal Revenue Service for money-laundering and tax evasion .
Read moreCan I still use Binance in the US?
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 .
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