This question is not quite right, but I understand that it should be about whether withdrawing US dollars from Binance will trigger overseas income tax reporting. From my understanding, this is actually a collection of many issues. Firstly, there is no CRS in the United States and China, which means that whether you transfer money from Binance or any exchange to your bank in the United States, even if you open an account with a Chinese passport, there is no CRS related issue. (We only discuss CRS) Secondly, if you transfer this money to Singapore or other non Chinese territories, the first thing to consider is whether there is CRS interaction with China. If there is, the next step is where you are a tax resident. For example, if you are a tax resident of Singapore (or a local area), information before 2026 will not be synchronized. After 2026, China has already communicated with overseas banks, and any information opened with a Chinese passport must be returned to China. Currently, some banks have implemented this policy, and some private bank users can have a relief period of about one year. If you transfer money to a bank in Hong Kong, even if you are a tax resident of Hong Kong, it will be recorded, but it may not necessarily be exchanged. If you are not a tax resident of Hong Kong, you will definitely exchange with the mainland. The current CRS is basically balance, but CRS 2.0 will gradually come into effect from 2027, and it will not only be balance, but more detailed information. If the funds directly enter the banks in Chinese Mainland through overseas, there is nothing to say, and there is no exchange, no exchange, and it will definitely be recorded. CRS does not necessarily require you to pay taxes, but rather to understand the income of overseas Chinese people and determine whether you need to pay taxes within China based on your income. For example, if you are a tax resident of Singapore and have already paid taxes in Singapore, your taxes in China will depend on whether you still meet the tax conditions within China after deducting Singapore taxes from your income in Singapore. If you meet the requirements, you will need to pay taxes; if not, you do not need to pay taxes. The same principle applies to stock trading, but currently in China, losses are calculated on an annual basis and are not carried over to the next year. Any value added within a year needs to be taxed. For example, if you have $100000 in the first year and lose $50000 in the second year, you do not need to pay taxes. However, if you increase to $80000 in the third year, you need to pay taxes on the $30000 increase. If you lose $10000 in the fourth year, you do not need to pay taxes. If you are lucky enough to return to $100000 in the fifth year, you need to pay taxes on the $90000 increase. Overall, in the past, tax residency was more important than anything else, but starting from 2027, at least for China, passports are more important than tax residency. Unless you have already changed your passport, China has long arm jurisdiction over you. @bitget VIP， Lower rates and more generous benefits