Does Binance report to tax authorities? CRS reporting

What is CRS reporting?

The Common Reporting Standard (CRS) is a system created by governments worldwide to help fight tax evasion (i.e., prevent people from hiding money in foreign accounts to avoid paying taxes). In practice, it requires financial institutions to share account-holder information with tax authorities on an annual basis – and those authorities then share it with the relevant tax authority in the customer’s country of residence.

Here’s how it works:

• Binance collects your information: when you open an account, you must provide your name, address, and tax ID. The platform also collects your year-end account balance (31 December), gross proceeds from sales, interest income, dividend income, and other income;
• Information is shared with relevant tax authorities: for example, EU residents have historically been onboarded through various Binance entities depending on their country of residence. With the EU’s Markets in Crypto-Assets (MiCA) regulation taking full effect from 1 July 2026, Binance applied in January 2026 for a pan-EU MiCA licence through the Hellenic Capital Market Commission (HCMC) in Greece, where it established a new holding entity (“Binary Greece”). The outcome of the application is being decided as of June 2026, with reports suggesting the HCMC may not approve it – which would force Binance to either operate without an EU passport or to find a different regulatory route. Regardless of which entity ultimately holds Binance’s EU clients, that entity’s national tax authority would handle CRS reporting and forward data to each user’s country of tax residence.

Importantly, you do not need to take any action yourself – CRS reporting is handled by Binance and the relevant tax authorities directly.

Does Binance participate in CRS reporting?

Yes. Binance participates in CRS reporting through its various regulated subsidiaries operating in CRS-participating jurisdictions. EU users’ data flows through whichever Binance EU-licensed entity holds their account, with that entity’s national authority then exchanging information under CRS. We have directly contacted Binance customer support, and their response confirmed this.

Binance’s approach to regulatory reporting has tightened significantly following its November 2023 settlement with US authorities, in which the company paid $4.3 billion for violating anti-money laundering rules – one of the largest corporate penalties in US history. Founder Changpeng “CZ” Zhao stepped down as CEO and was succeeded by Richard Teng. Since then, Binance has exited several European markets (including the Netherlands, Germany, and Austria) and significantly strengthened its compliance infrastructure globally, making tax authority reporting under CRS and similar frameworks a central part of its operations.

Other Binance subsidiaries that participate in CRS or equivalent frameworks include:

• Binance.US (BAM Trading Services Inc.);
• Binance Singapore (Binance Asia Services Pte. Ltd.);
• Binance Australia (Binance Australia Pty Ltd);
• Binance Turkey (BN Teknoloji A.Ş.);
• Binance Korea (Binance Co., Ltd.);
• Binance India;
• Binance Brazil.

What information does Binance report?

Binance does not “choose” what information to share – it must provide what CRS regulations require, namely:

• Account number;
• Name;
• Full address;
• Date of birth;
• Tax identification number;
• Tax residency country;
• Year-end account balance;
• Gross proceeds from all sales, interest income, dividend income, and other income.

Where can I get my CRS in Binance?

You cannot get access to the CRS in Binance. We contacted customer support to be 100% sure, and their response confirmed it:

Still, there are other platforms like Interactive Brokers that allow you to access your CRS:

Which countries are affected?

Over 120 countries participate in CRS, cooperating for higher financial transparency standards – including all European Union member states, the UK, China, India, Hong Kong, Singapore, Australia, Brazil, and most other major economies.

The United States is a notable exception. It is not included in the CRS ecosystem; instead, it controls its citizens’ foreign financial assets through the Foreign Account Tax Compliance Act (FATCA), which requires foreign financial institutions to report on assets held by their US account holders.

How CRS reporting differs from FATCA (for US users)

Here’s a side-by-side comparison to help you understand the differences:

How to file your Binance taxes

Every year, you need to declare any crypto earnings from the previous year. Your investments may generate income (staking, yield farming, lending interest, etc.) or capital gains and losses (selling or swapping crypto). The exact tax treatment depends on your country of tax residence – some jurisdictions tax crypto as ordinary income, others apply capital gains rates, and some offer preferential treatment for long-term holdings.

How does CRS reporting affect Binance corporate accounts?

CRS reporting applies not only to personal (individual) accounts but also to business accounts held with Binance. Binance must report information on business accounts when the account holders or controlling persons (such as company owners or beneficial owners) are tax residents of countries participating in CRS.

Here’s how CRS reporting affects Binance business accounts:

• Collection of business information: Binance collects the relevant information when a business account is opened. This includes details of the business, its country of incorporation, and the tax residency of the business and its controlling persons (owners with 25%+ ownership stakes, in most jurisdictions);
• Reporting requirements: Binance is required to share information about business accounts with tax authorities in the same way it does for personal accounts. This includes:
  1. Business name and identification details;
  2. Account balances (year-end);
  3. Gross proceeds and other relevant income figures;
  4. Tax residency of the business and its controlling persons.
• Impact on global businesses: if a business operates internationally or has owners across multiple jurisdictions, the tax residency of the business and its controlling persons determines where and how the information is reported under CRS. This can mean reports going to multiple tax authorities for a single business account.

Bottom line

Binance reports to tax authorities under the Common Reporting Standard (CRS) in all CRS-participating jurisdictions where it operates regulated subsidiaries. This applies to both personal and business accounts held by users who are tax residents of those participating countries.

CRS reporting ensures that financial institutions like Binance share relevant account information with local tax authorities, helping to prevent tax evasion. As a user, you do not need to take any specific action for CRS – but you remain responsible for declaring your crypto income and gains in your annual tax return according to the rules of your country of residence.

Do you have any questions? Feel free to reach out.