How to Report Taxes for Binance Smart Chain (BSC) With Awaken
Binance Smart Chain (also referred to as Binance EVM or simply BSC) is one of the most widely used blockchains for DeFi, NFTs, and on-chain trading. Whether you're farming yield, swapping tokens, or bridging assets, your Binance Smart Chain activity may be subject to crypto tax rules.
Awaken Tax makes it easy to track your BSC transactions by connecting directly to your wallet address. This guide explains how to import your BSC activity into Awaken to generate accurate, compliant tax reports.
✅ Step-by-Step: Connecting Your Binance Smart Chain Wallet
Because BSC is a decentralized blockchain, all your on-chain activity is associated with your wallet — not an account on a centralized platform. To import your transaction history into Awaken:
Log into your Awaken Tax account
Navigate to the Accounts tab
Click Add Account
Choose Binance Smart Chain from the list
Click Add Wallet
Paste your BSC wallet address (typically starts with 0x) and confirm
Awaken will automatically fetch your entire transaction history from Binance Smart Chain (and over a dozen other EVM chains as well), including:
Token swaps (e.g., on PancakeSwap or other DEXs)
DeFi interactions (staking, lending, LP positions)
NFT mints, buys, and transfers
Transfers between wallets and exchanges
Smart contract interactions
📌 Only use public addresses. Private keys are never required or requested.
If you’ve used multiple wallets on BSC, repeat the process for each one to ensure complete coverage.
📄 Optional: Upload a CSV File (Manual Method)
In addition to direct wallet integration, you can also upload a CSV file of your BSC transactions.
Export your transaction history from a blockchain explorer like BscScan
Download your activity as a CSV
Format your file to match Awaken’s CSV standards: 👉 How to Format Your CSV for Awaken Tax
In Awaken, go to Accounts > Add Account > Upload CSV
Drag in your file to import the transactions
This option can be useful if you’ve already compiled custom data or want more control over what gets imported.
🔗 Connect All Your Wallets and Accounts
To ensure a complete tax report, be sure to connect every wallet and exchange you’ve used across all chains, not just BSC.
Awaken supports 50+ blockchains and exchanges, so you can unify your entire crypto portfolio in one place.
👉 Explore all supported integrations
🌍 How BSC Transactions Are Taxed
Tax treatment for BSC activity depends on your local laws. Most countries treat token swaps and DeFi rewards as capital gains or income, but rules vary by jurisdiction.
For up-to-date, country-specific guidance, use our global tax overview: 📚 Global Crypto Tax Landscape 2025
🕵️ Does Binance Report My BSC Activity to the IRS?
In short, the answer is no, your BSC wallet activity is not directly reported to the IRS by Binance.
However, all BSC transactions are public and traceable. If your wallet interacts with centralized exchanges that report to tax authorities (like Binance US, Coinbase, Kraken, etc.), the IRS may be able to infer your on-chain wallets and track their activity.
This makes proactive tax reporting imperative, and Awaken provides you with the tools to do so confidently.
Final Thoughts
If you’re active on Binance Smart Chain, connecting your wallet to Awaken Tax is the simplest way to stay tax-compliant. You’ll get automatic transaction syncing, DeFi tracking, and clean reports for your accountant or tax software.
Whether you’re yield farming or swapping tokens, Awaken helps you turn complex on-chain activity into clear, accurate tax reports.
