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.
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