The world’s third biggest cryptocurrency exchange, Bitfinex, sent their users a letter requesting their tax information to submit to British Virgin Islands in line with it’s laws.
“The government of the BVI may then exchange that information with the tax authorities of the customer’s country of residence, consistent with British Virgin Island’s law, the U.S. Foreign Account Tax Compliance Act (FATCA), and the Organisation for Economic Co-operation and Development Common Reporting Standard (CRS).” letter said.
Later Bitfinex underlined that letters were not sent to all users of the crypto exchange.
We have not sent this message to all users. We have deliberately targeted users that we believe have an obligation to self-disclose. If a user has _not_ received a message from us, she need _not_ self-certify anything to us at this time.
— Bitfinex (@bitfinex) May 17, 2018
Those users, who received the email, must provide the information in a week. Bitfinex Letter already caused a wave of disappointment on social media:
Bitfinex capitalization is currently at $599 million according to CoinMarketCap.
By Nadya Astam