does irs see binance trades

Irs' view on Binance trades As news sites continue to report on the increasing interest in Binance as a platform for buying and selling cryptocurrency, the IRS ( Internal Revenue Service ) has taken a closer look. It is important to understand the differences between the two entities, and how they can affect the platform's users. The IRS is the tax office that collects and handles taxes for individuals and businesses in the United States. It is responsible for monitoring and preventing fraudulent activities, such as using fake identities to avoid paying taxes. On the other hand, Binance is a platform that allows users to buy and sell cryptocurrency. It was founded in 2012 and has since grown to become one of the largest platforms for buying and selling digital currencies in the world. Irs' interest in Binance trades comes from their efforts to ensure that they comply with the law. As a platform that allows users to buy and sell cryptocurrency, Binance has been subject to increased scrutiny from the IRS. Despite the increased scrutiny, Binance has not yet been found guilty of any fraudulent activities. The platform's ability to secure user information and money is a key factor in its ability to withstand scrutiny. As the relationship between the two entities continues to evolve, it is important to remain vigilant and remain aware of the potential consequences of using Binance for buying and selling cryptocurrency.