Bitfinex exchange asked users about their tax residency


Based in Hong Kong, the Bitfinex Exchange has sent letters to its users asking for information about their tax residency. Information was officially confirmed by the representatives of the site.

The requirements of Bitfinex are consistent with the laws of the British Virgin Islands, obliging it to pass to the government details of certain accounts.

“Bitfinex is now requiring users to give their tax information so that it can send it to BVI which will exchange it with your country’s tax authorities.. Subsequently, the information can be transferred to the tax authorities of the country of residence of the client in accordance with the laws of the British Virgin Islands, the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard of the Organization for Economic Cooperation and Development (CRS),” the letter said.

However, Bitfinex clarified that the letters were not received by all users of the exchange.


“If the user has not received a message from us, at present he does not need to fill out a form of self-certification,” the exchange writes.

The same users who received the letter must provide the necessary information in a week.

“If you also disagree with this decision, peacefully protest it by withdrawing your money from Bitfinex”

In late March, the Bitfinex Exchange announced plans to move to the Swiss city of Zug.

Bitfinex plans to move to Switzerland