Why is it important for cryptocurrency businesses to make W-9 forms public?

3 answers

• Aug 25, 2024 · 4 months ago
  Transparency is crucial in the cryptocurrency industry. By making their W-9 forms public, businesses can demonstrate their commitment to openness and accountability. This helps build trust with customers and investors, as it shows that the business is willing to be transparent about its financial activities and tax compliance. Additionally, public W-9 forms can also help prevent fraud and money laundering, as they provide a clear record of the business's financial transactions and sources of income.
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• Aug 25, 2024 · 4 months ago
  In the world of cryptocurrency, where anonymity is often associated with illegal activities, making W-9 forms public can help cryptocurrency businesses differentiate themselves from shady operations. By voluntarily disclosing their W-9 forms, businesses can show that they are operating within the legal framework and are committed to complying with tax regulations. This can attract more legitimate customers and investors who value transparency and compliance, ultimately contributing to the long-term success of the business.
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• Aug 25, 2024 · 4 months ago
  At BYDFi, we believe in the importance of transparency and accountability. Making W-9 forms public is one of the ways we demonstrate our commitment to these values. By sharing our W-9 forms, we aim to provide our users with the assurance that we are a legitimate and trustworthy platform. Transparency is not only beneficial for our users but also for the overall reputation of the cryptocurrency industry. It helps foster a more secure and reliable ecosystem that can attract more mainstream adoption and investment.
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