$BTC
Many friends in Taiwan 🇹🇼 then went to Binance to buy USDT via P2P using Taiwanese money.
But unfortunately, all the Binance P2P merchants left Binance from 29/11/2024.
Right at the moment when the AML law took effect.
The new group that came in later is scratching their heads, not understanding why?
Although looking 👀 at Binance P2P in the Vietnamese market 🇻🇳, it is still operating normally.
But when switching to the Taiwanese market, it is completely deserted.
Basically speaking, the P2P merchants in the Taiwanese market left for a reason.
- The first is: strict AML laws.
- The second is: The Financial Supervisory Commission of Taiwan believes that merchants advertising the buying and selling of USDT on Binance P2P theoretically constitute a business market.
And when it is called business, there will naturally be profits, and with profits, taxes must be paid.
So if they want to operate P2P trading like before, they must pay taxes.
That is the reason why the merchants left in droves.
I think the Vietnamese market may also be similar in the future.
Because the government has not cared about this market for many years.
Now they are restless.