Can US citizens use foreign crypto exchanges? The answer to the above question is YES, you absolutely can trade crypto with a US company. You are 100% allowed to buy and own crypto on Coinbase, Kraken, Binance.us, FTX.US or other US-licensed crypto exchanges with a US company.
Is it legal to use a VPN to trade crypto? Is buying crypto with a VPN illegal? No, Buying crypto when using a VPN isn’t illegal. In fact, it makes it even more anonymous. No one from your browsing logs could say what, when looking at your browsing logs, could say that you’ve purchased something.
Can I trade crypto overseas? Trading through an offshore company will require you to include some complicated tax forms in your return, such as IRS Form 5471 and IRS Form 926. You may also be required to file the Foreign Bank Account Report as well if you have accounts at a non-US crypto exchange.
Do foreign crypto exchanges report to IRS? If a taxpayer holds Crypto Assets on a centralized exchange operating outside of the U.S., then FBAR reporting is applicable to the foreign exchange account.