Bitfinex, the exchange, known for its non-transparent banking agreements, has begun to census its users to submit tax data.

The platform, registered in the British Virgin Islands, known as the "tax haven", reports that it will retain tax information and can share it with tax authorities in the jurisdiction of its customers. The news caused a real stir and wide resonance.

In an e-mail, issued for some users of the platform, Bitfinex outlined a new policy of following the "know your customer" rule (KYC). Not content with the knowledge of the person and the whereabouts of their customers, now crypto-exchange wants to receive tax details of users. It was stated that this is in accordance with local laws in the British Virgin Islands (BVI), where the stock exchange is registered. However, the collection of tax data by the platform is not the ultimate goal - the exchange notes that the BWO government "can then share this information with the tax authorities of the client's country of residence."

Just a few months ago, Bitfinex did not even apply the basic KYC rules to its users. Now this has become one of the first priorities of crypto-exchange. In its quest to become one of the most "regulated" platforms and the introduction of a tax distribution policy, Bitfinex surpassed even such companies as Coinbase or Bittrex.

After a message appeared in the publication on Twitter about the new Bitfinex policy, the exchange clarified its position, explaining:

We have not sent this message to all users. We deliberately notify those users who, we believe, are required to disclose their data to tax authorities. If the user has not received a message from us, he does not need to disclose the data, from our point of view, at the present time. However, it is possible that all users will ultimately be required to comply with these rules.

Bitfinex users plan a boycott

A number of Bitfinex customers have already announced their desire to boycott the platform and start trading on another site. Due to the increased level of regulation, coupled with the transparency inherent in the technology of blocking, users of crypto currency are already among the most carefully studied investors in the world. Many believe that the new Bitfinex policy, regardless of its legal framework, is unacceptable.