I don't think this is specific to Binance. The SEC and Treasury are really looking at cracking down on crypto-reporting across the board. It's very unfortunate

I don't think this is specific to Binance. The SEC and Treasury are really looking at cracking down on crypto-reporting across the board. It's very unfortunate because, I agree, crypto's strongest appeals were in it's decentralization and it's anonymity. But I know that the current administration is trying to "crack down" on tax "evasion" and is proposing and implementing quite a few things that will likely make a majority of those involved unhappy. I don't think Binance is going to be the only doing this.