This is a true story from a friend in the crypto circle:
In 2022, he cashed out hundreds of thousands of USDT, directly deposited into his Hong Kong account through an OTC merchant.
At that time, he thought it was very 'safe', but in 2024, he received a 'risk notification letter' from the mainland tax authorities 📩.
He only asked me one question:
"I haven't touched my wallet, how did I still get audited?"
🔍 You think a cold wallet is safe, but the off-chain has already exposed you.

What is CRS (Common Reporting Standard)?

👉 Simply put: a mechanism where tax authorities of various countries automatically exchange financial account information, covering 100+ countries and regions, including mainstream withdrawal places like China 🇨🇳, Hong Kong 🇭🇰, Singapore 🇸🇬, etc.

⚠ What are the common high-risk operations for crypto people?

  1. OTC withdrawal to offshore accounts in one's own name
    Even accounts in Hong Kong and Singapore will still be subject to CRS information exchange, and account balances and transaction details may be reported.

  2. Exchange KYC uses Chinese passports
    Most exchanges (like Binance, OKX) are now under compliance regulation, and if identity information or fund movements trigger red flags, it could indirectly lead to a tax investigation.

  3. Frequent receipts/sends from OTC merchants or other addresses
    Complex fund pathways without structural isolation can easily be misjudged as 'money laundering' or 'tax evasion'.

✅ So how to reduce risks?

💡 Core idea: Reduce off-chain exposure + Optimize identity structure + Ensure legal and compliant withdrawals


You can do the following:

  • Configure identity in a non-CRS country (such as Panama, Nicaragua, etc.)

  • Establish a digital asset holding company under that identity

  • Withdraw funds through a company account / offshore structure, away from personal account exposure

  • Pair with offshore wallets, physical bank cards, and legal deposit and withdrawal processes

The benefits of operating this way:

  • Not being exchanged back to Chinese tax authorities by the CRS system

  • Tax risks are more controllable

  • Can be coordinated for global asset allocation


🧠 Reminder: CRS does not check on-chain, it checks 'off-chain assets and identities', and you exposed yourself the moment you withdrew through OTC.
Don't wait until the 'inquiry letter' arrives to start worrying. Contact us to plan your identity well and build a financial firewall.

#币安Alpha上新 #ETH突破4300 #特朗普加密新政 $BTC $ETH $XRP

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