Bitfinex, one of the largest cryptocurrency exchanges by volume, now wants users to give their tax information which will be sent to British Virgin Island (BVI) to exchange it with their country’s tax authorities.

In accordance with the BVI law, Bitfinex is required to report certain account information to the BVI government which will be transferred to the relevant authorities following the Foreign Account Tax Compliance Act (FATCA), and the Organisation for Economic Co-operation and Development Common Reporting Standard(CRS). Customers are to fill a self-certification form in order to make certain each customer’s tax residence. The filled self-certification form will be uploaded by the customer to his Bitfinex account. According to the statement issued by the Bitfinex Compliance Team:

“If you are a U.S person (i.e. a U.S resident, a U.S citizen, or an entity organized in the United States), or an entity with at least one 25%+ owner who is a U.S person, please complete the appropriate FATCA form. Otherwise complete the appropriate CRS form.”

Compliance is to be effected, at the latest, may 24, 2018.