How to Report Taxes For Binance with Awaken Tax
Binance is the largest crypto exchange in the world, doing multiple trillions of dollars in trading volume per year. Binance offers spot and margin trading, staking, launchpads, and more. Awaken supports a direct API connection to Binance, allowing users to automatically sync transactions and generate accurate tax reports in just a few clicks.
This guide walks you through creating your API keys on Binance and connecting them to your Awaken account. We’ll also cover all the potential tax documents you will need for Binance, as well as key considerations for users in various jurisdictions worldwide.
📌 Note: for Binance US customers, read our guide for reporting Binance US Taxes.
🔐 Step 1: Generate Your Binance API Keys
To connect Binance to Awaken Tax, you’ll need to generate read-only API keys from your Binance account.
Here’s how:
Log in to your Binance account.
Hover over your profile icon (top right) and select API Management
Under Create API, choose System-Generated API and give it a label (e.g., “Awaken Tax”)
Complete the security verification steps (2FA and email confirmation)
Once the API is created:
Copy your API Key
Copy your Secret Key (shown only once — save it securely)
Under API restrictions, make sure:
Only read-only permissions are enabled
Spot & Margin access is allowed (for transaction data)
Enable Withdrawals is disabled
Set IP access to Unrestricted if required (you can update this later)
📌 Never enable withdrawal permissions. Read-only access is sufficient for tax reporting.
🔗 Step 2: Connect Binance to Awaken Tax
Once your API keys are ready, connect them to Awaken:
Log in to your Awaken Tax account
Go to the Accounts tab
Click Add Account
Search for Binance and click “connect”
Follow the Vezgo flow
Paste your API Key and Secret Key into the fields
Click Connect
Awaken will import your full Binance history, including:
Spot and margin trades
Staking and lending rewards
Fiat deposits and crypto withdrawals
Launchpool and launchpad activity
All transactions will be automatically categorized for tax reporting.
🌍 Binance Tax Documents by Country
Binance does not issue official tax forms for most countries, but you are still responsible for reporting your crypto gains and income based on your jurisdiction's tax laws.
Here’s a quick overview of the tax documents Awaken can generate for you by region:
🇨🇦 Canada: CRA-issued forms. You must self-report capital gains and income on your tax return.
🇬🇧 United Kingdom: HMRC tax forms provided. Crypto sales and income must be reported manually to HMRC.
🇦🇺 Australia: ATO tax docs. You’re required to track and report all capital gains and income from crypto.
🇩🇪 Germany: No direct tax documents. You must track holding periods and gains to determine taxability.
🇫🇷 France: No pre-filled forms. Manual reporting of crypto gains and activity is required under French law.
For detailed tax rules in your country, visit: 📚 Global Crypto Tax Landscape 2025
Awaken Tax localizes your reports based on country-specific rules, making it easy to stay compliant no matter where you are.
🕵️ Does Binance Report to the IRS?
Binance (global) does not directly report user activity to the IRS, as it is not available to US citizens. However, Binance has complied with certain international data-sharing agreements and may provide information to local tax authorities if requested under specific regulations.
Even though you may not receive a tax form from Binance, you are still responsible for reporting all crypto income, gains, and losses from your Binance trading activity to your tax authority.
Using Awaken Tax ensures that all your Binance transactions are imported, organized, and ready for accurate tax reporting in your country, keeping you compliant even without direct reporting from Binance.
🔄 Don’t Forget to Connect Other Wallets and Exchanges
To ensure complete and accurate tax reporting, connect all wallets and exchanges you’ve used, not just Binance.
👉 Browse all supported integrations
✅ Final Steps
Generate your Binance API keys from your profile
Connect them via Add Account > Binance in Awaken
Review your transactions and download your tax report
Connect additional platforms as needed
Use Awaken to file accurately based on your local laws
Have questions about formatting, connecting, or localization? Our support team is here to help you every step of the way! Just reach out in the app or on our website anytime.
