Post
Topic
Board Exchanges
Re: Can I open binance account after I closed it?
by
EarnOnVictor
on 04/03/2024, 08:23:48 UTC
Is there binance policy against that?

The reason is I do not want to be forced to reveal my binance accounts to tax authority.

Basically the rules of tax for crypto currency have changed in my country. And it keeps changing. So even if I comply I don't want uncertainty.

Closing and reopening would prevent tax authority from forcing me to disclose past transactions.
I'm sorry this may be coming late but I feel it's still good to advise you after reading what many had written as given advice, but I am not satisfied by them.

First, regarding the closure and reopening of your Binance account, I think that Binance itself and no one else can advise you rightly. Just tell them the intention but you should not let it look suspicious. That takes me to the next concern, don't you think it would be suspicious for you to close an account today and maybe the next day reopened it? What if the tax law in your country continues to change, will you keep on closing and reopening the account?

Well, if this is your plan, I advise you to abort it before it puts you into trouble. It will surely be suspicious and I fear for your account because when they actually flag it and seize your money thereby demanding answers to your actions, will you now say it's because of tax fraud? You should rethink it. By the way, it's tax, do not evade it if I should be sincere with you. Who knows what could happen in the future, you should obey and abide by the law of the land. Tax payment is the benefits of your country and you are supporting the government and the citizens by paying it. Also, Binance might have closed your account but the details are still with them and will always have and provide them when the authorities require them. Not to mention that some accounts will continue where you closed them and link the user's details and transaction history together, which will make your plan useless.