2026-01-19 22:28:55

This question is a bit off-topic, but I can guess the core meaning—when withdrawing funds from a major exchange to a US account, could it trigger issues with overseas income reporting and taxation?

My understanding is that there are actually several layers behind this. First and foremost: there is no CRS agreement between the US and China. What does this mean? Whether you are transferring USD from a major exchange or other platforms to a local US bank, even if you register and open an account with a Chinese passport, the banking system will not automatically report information to tax authorities in both countries. Technically speaking, there is no automatic exchange mechanism for financial intelligence between the two countries. But this is just a technical fact; it does not mean there are no other risks, which is something that needs to be clarified.

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MetaMisfit

· 6h ago

Uh, the logic is correct, but it still feels a bit naive... No CRS protocol ≠ no risk, everyone.

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bridgeOops

· 6h ago

The absence of the CRS agreement is indeed a key point, but bro, your "technical fact" is a bit too optimistic. Lack of CRS doesn't mean they won't investigate; both sides want money.

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Ser_Liquidated

· 6h ago

Ha, so basically there's no "listener" installed between the US and China, and technically there are indeed many vulnerabilities.

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NeonCollector

· 6h ago

Hey man, not having the CRS agreement is indeed a key point... but I still think we shouldn't focus on just that.

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ShitcoinArbitrageur

· 6h ago

Wow, so does that mean the US and China are outside the CRS framework and essentially a lawless zone? Sounds too good to be true, there must be a catch. Hmm… Not automatic reporting doesn’t necessarily mean it’s truly safe, I understand this principle. When it comes to withdrawing funds, you still need to be careful. Just thinking about saving a little on taxes isn’t enough. Does US banks really not automatically inform China? Feels a bit too relaxed… I didn’t quite understand the CRS issue before; turns out there’s no agreement between China and the US. It seems technically risk-free, but there might be other considerations in actual operation. So what’s the safest plan? Could it really be just doing it this way?

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MysteriousZhang

· 6h ago

The absence of the CRS protocol is indeed a vulnerability, but the key is not to be too naive.

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