Platform cryptocurrency exchange Bitfinex recently sent some users a letter which ordered them to disclose their tax information, the exchange could direct the authorities of the British virgin Islands (BVI), if necessary.
According to a statement from Bitfinex in accordance with the laws of the British virgin Islands jurisdiction over the exchange, it is obliged to report specific information to the government. Subsequently, the government of the BVI may transfer this information to the tax authorities of the resident country in accordance with the laws of the British virgin Islands, the Law on tax compliance of foreign accounts of the United States (FATCA) and common reporting standard the Organisation for economic cooperation and development (CRS).
The deadline for the submission of information on may 24. Clients, according to the notice, are required to fill out forms self-certification in accordance with the standards of FATCA or CRS, depending on the country of tax residence:
“If you are a U.S. resident, a U.S. citizen or a legal entity registered in the United States of America or a legal entity with at least 25% ownership shares in U.S. companies, complete the appropriate form FATCA or the corresponding form CRS “.
Bitfinex has confirmed the fact of the reference in the comments to the user message Whalepool in Twitter, however, said that the letter was not all users of the exchange:
“If the user does not receive a message from us, now he don’t have to self-certify,” writes the exchange.
Bitfinex was founded in 2012, headquartered in Hong Kong. With a market capitalization of $ 686 million. Bitfinex is the fourth largest sharing platform cryptocurrency trading 77 different digital assets.
Last month Bitfinex fell under the “Initiative for the integrity of virtual markets” and “research policies and practices” cryptocurrency trading platforms, initiated by the then attorney General of new York Eric Schneiderman. Under the program the exchange has been sent a letter with a request to provide information on the operations, internal control and other key issues, with the aim to protect investors and users of the cryptocurrency.