Are there any limitations or restrictions when using the Binance API for tax reporting purposes?
Athanasios DolmatzisMay 01, 2022 · 3 years ago1 answers
What are the limitations or restrictions that one should be aware of when using the Binance API for tax reporting purposes?
1 answers
- May 01, 2022 · 3 years agoWhen it comes to tax reporting, the Binance API has some limitations and restrictions. One important limitation is that the API only provides access to your trading data on the Binance platform. If you have transactions on other exchanges, you will need to obtain the necessary data from those exchanges separately. Additionally, the Binance API does not offer direct tax reporting features. This means that you will need to use the API data to calculate your tax obligations or consult with a tax professional. It's crucial to understand the tax laws and regulations in your jurisdiction to ensure accurate reporting and compliance.
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