What are the legal requirements for using Binance in the US for cryptocurrency transactions?

Cojocariu StefanJan 04, 2022 · 3 years ago1 answers

What are the legal requirements that need to be met in order to use Binance for cryptocurrency transactions in the United States?

What are the legal requirements for using Binance in the US for cryptocurrency transactions?

Legal Requirements

1 answers

Jan 04, 2022 · 3 years ago
To use Binance for cryptocurrency transactions in the US, you must meet specific legal requirements. Firstly, you need to be of legal age, typically 18 years old, to create an account on Binance. Secondly, you will be required to complete the KYC verification process, which involves providing identification documents to comply with AML regulations. It is important to note that Binance may have restrictions on certain states in the US due to regulatory reasons. Therefore, it is recommended to check if Binance operates in your state before proceeding. Lastly, it is essential to fulfill any tax obligations related to cryptocurrency transactions according to US tax laws.

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