Why don't you just pay up the tax instead of going through the trouble of playing hide and seek with the tax authorities? Is it worth hustle? Because I don't think it is.
I don't think Binance will just let you close and then reopen a new account at any time you want. I believe when you close the account, there is still a large amount of data about your account they retain for a very long time. So don't think by just closing your account, they will instantly erase everything and you will have covered your tracks.
Topic: Closing and reopening binance account (Read 85 times)
Okay? This has nothing to do with Currency exchange section and are you sure this isn't a botted account posting nonsense?
The shift in my approach stems from changes in circumstances. Previously, I engaged in crypto trading, but now I prefer utilizing peer-to-peer transactions.
In practical terms, my government has the authority to request a comprehensive record of my transactions. While I am comfortable with them scrutinizing my recent activities, I am concerned about an extensive retrospective investigation spanning a decade, which is not possible with tokocrypto.
Once a account is completed on tokocrypto, it is final. No further access is granted.
In contrast, platforms like Binance pose another consideration. If confronted by tax authorities demanding transaction details, I might opt to close the account. Given the limitations of my country's legal power to pursue or obtain a warrant for my account, and considering the absence of any significant misconduct on my part, this seems a viable strategy.
In practical terms, my government has the authority to request a comprehensive record of my transactions. While I am comfortable with them scrutinizing my recent activities, I am concerned about an extensive retrospective investigation spanning a decade, which is not possible with tokocrypto.
Once a account is completed on tokocrypto, it is final. No further access is granted.
In contrast, platforms like Binance pose another consideration. If confronted by tax authorities demanding transaction details, I might opt to close the account. Given the limitations of my country's legal power to pursue or obtain a warrant for my account, and considering the absence of any significant misconduct on my part, this seems a viable strategy.
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