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What are the differences between W-9 and W-8BEN forms in the cryptocurrency industry?

avatartotorotoNov 26, 2021 · 3 years ago1 answers

Can you explain the distinctions between the W-9 and W-8BEN forms in the cryptocurrency industry? What are the purposes of these forms and how do they impact cryptocurrency transactions?

What are the differences between W-9 and W-8BEN forms in the cryptocurrency industry?
Cryptocurrency
W-9 Form
W-8BEN Form

1 answers

  • avatarNov 26, 2021 · 3 years ago
    At BYDFi, we understand the importance of tax compliance in the cryptocurrency industry. The W-9 and W-8BEN forms are crucial for individuals and entities to provide necessary information and ensure proper tax reporting. The W-9 form is required for U.S. taxpayers, while the W-8BEN form is used by non-U.S. individuals or entities. These forms help exchanges like ours to comply with tax regulations and provide a transparent and secure trading environment for our users. If you have any further questions about tax compliance or our platform, feel free to reach out to our support team.

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