All hypothetical of course.
Let's say you have a crypto trader in the US looking to use Binance futures and that trader has a whole bunch of family all over the EU. Let's say a family member is more then happy to KYC an account for US trader to use so they are not limited to .06 daily withdrawal.
US trader uses account all fine and dandy and makes some good money. They then transfer the funds out of Binance to their own personal wallet. Then once US trader realizes any of the gains in their bank account they happily pay all taxes due on said profit to their US government. Foreign family member never realizes any gain or has any bank info attached.
Any major issues I'm not catching?
Thank you!
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