Crypto Currency Thread (Vol.2)
Discussion
jammy-git said:
What does that mean for UK customers then? They'll cash out or transfer crypto and close their accounts?
my understanding you can use them, they can't advertise and you are offered zero protection. Banks you withdrawal to might get funny. If it was me i would transfer it off to another exchange that is recognized. The Spruce Goose said:
Just looking at the finance thing.
""Binance Markets Limited also must “secure and preserve all records and/or information?.?.?. relating to all UK consumers from its systems”
Quite a few on this thread use binance, looks like you might have to pay capital gains..
That's a bit of a leap. There are plenty of FCA regulated organisations that don't directly report to HMRC.""Binance Markets Limited also must “secure and preserve all records and/or information?.?.?. relating to all UK consumers from its systems”
Quite a few on this thread use binance, looks like you might have to pay capital gains..
The Spruce Goose said:
Just looking at the finance thing.
""Binance Markets Limited also must “secure and preserve all records and/or information?.?.?. relating to all UK consumers from its systems”
Quite a few on this thread use binance, looks like you might have to pay capital gains..
True no matter what's going on surely long as your over the prescribed limits?""Binance Markets Limited also must “secure and preserve all records and/or information?.?.?. relating to all UK consumers from its systems”
Quite a few on this thread use binance, looks like you might have to pay capital gains..
halo34 said:
True no matter what's going on surely long as your over the prescribed limits?
i'm sure all Binance users have paid appropriate tax on their gains... 
I guess if they don't comply Banks will start to reject transfers from them. It is pretty serious stuff really, talk of funding termism holds a lot of weight.
The Spruce Goose said:
i'm sure all Binance users have paid appropriate tax on their gains...
I guess if they don't comply Banks will start to reject transfers from them. It is pretty serious stuff really, talk of funding termism holds a lot of weight.
Didn't we do this before about tax?I guess if they don't comply Banks will start to reject transfers from them. It is pretty serious stuff really, talk of funding termism holds a lot of weight.
If someones on there not doing their returns, then more fool them frankly.
I made a slight loss through binance so they are welcome to mine
Banks may react, I certainly only have a little left in there and took it out friday. I tend to mine to coinbase anyway as building up a fund.
The Spruce Goose said:
Just looking at the finance thing.
""Binance Markets Limited also must “secure and preserve all records and/or information?.?.?. relating to all UK consumers from its systems”
Quite a few on this thread use binance, looks like you might have to pay capital gains..
Not specific to Binance but I absolutely cannot understand why people make such a thing about this - why wouldn't you pay tax?""Binance Markets Limited also must “secure and preserve all records and/or information?.?.?. relating to all UK consumers from its systems”
Quite a few on this thread use binance, looks like you might have to pay capital gains..
The Spruce Goose said:
the feeling i got on this thread people used them because they didn't supply details. This FCA request sounds like a retrospective information request.
I didn't see that, I saw allot of people overreaction to a question about how do they know, thats not the same.More fool people if they are trying to avoid it.
this is the FT article more details.
https://www.ft.com/content/8bc0e5e0-2705-496d-a265...
Financial watchdog bans crypto exchange Binance from UK
https://www.ft.com/content/8bc0e5e0-2705-496d-a265...
Financial watchdog bans crypto exchange Binance from UK
tertius said:
Not specific to Binance but I absolutely cannot understand why people make such a thing about this - why wouldn't you pay tax?
I’m assuming that a lot of people who don’t pay are borderline cases where they only just trigger the limits. I can understand not wanting to bother if it’s only for a relatively small amount of tax owed.Burwood said:
Haha-condi. The fake wannabe trader. Don’t worry dimots, he’s a wee fibber is condi. Just envious 
The guy is so stupid he goes from claiming million quid bonuses (where he has the time to post) to adding about renting a one bed in Peckham.
No idea who rattled your cage, but best not post at 11:30 in the evening when you've had some wine. The guy is so stupid he goes from claiming million quid bonuses (where he has the time to post) to adding about renting a one bed in Peckham.
I've never said anything about getting a million quid bonus and I've never lived in a one bed in Peckham.
The Spruce Goose said:
Just looking at the finance thing.
""Binance Markets Limited also must “secure and preserve all records and/or information?.?.?. relating to all UK consumers from its systems”
Quite a few on this thread use binance, looks like you might have to pay capital gains..
My play money was in binance and just pulled it out bar £0.13 in BnB ""Binance Markets Limited also must “secure and preserve all records and/or information?.?.?. relating to all UK consumers from its systems”
Quite a few on this thread use binance, looks like you might have to pay capital gains..
As for capital gains, I despair of those that think they’ll get away with it.
I’ve not made enough to worry about thresholds this year (or any year come to think of it
) but I wonder about those that thought they’d never get found/caught.Hopefully they’ve enough left in reserve to pay the bills, plus whatever penalty hmrc put on top.
essayer said:
It’s the derivatives, isn’t it? Trading in those is regulated (for good reason) and requires the firm to be licences. In the U.K. anyway..
Yes, but the compliance for data doesn't seem to be only for those accounts, as the FCA look at the broader regulations of money laundering and terrorism. They have been given warnings before and along with coin trading of 1.5 trillion becoming a goliath in the financial world as a whole, I guess enough is enough.Edited by anonymous-user on Sunday 27th June 18:01
DeanR32 said:
I’ve been using Binance, so I’m looking for another platform to trade. What others are recommended, and do I need a wallet to move bits into? Any recommendations for one of them too?
I was also on Binance because I wanted to access coins not on some of the other platforms. I’ve moved my mainstream coins to Coinbase. I know it’s not the cheapest platform, but it’s far more user-friendly than Binance. I may move again as I still have some that I couldn’t move over, but it’ll do short term.Gassing Station | Finance | Top of Page | What's New | My Stuff