Recently, many people have noticed that Binance now supports USD withdrawals via SWIFT directly to banks, and the fees have dropped from $60 to $25. This is a significant benefit for those looking to withdraw funds legitimately, as the process is shorter, the risks are lower, and it resembles traditional finance.
However, the reality is that it won't make you pay more taxes, but it will make you more transparent. SWIFT is a standard banking channel, and CRS, anti-money laundering, and banking reporting systems all operate on this path. Once you are a tax resident of China, foreign cryptocurrency gains already fall under the scope of declaration; it's just that many people were not actually enforced before.
So the current change does not mean you suddenly have to pay taxes, but rather that the existing tax obligations are becoming easier to see.
Therefore, I understand that this feature is suitable for those who are preparing for the long term and following compliant routes; if you are still using the lucky thinking from 2021, you are just shifting risks to another place.
Previously, I also tried offline withdrawals in Hong Kong, and with a Hong Kong card, it was very convenient to deposit directly into the local card after withdrawing.
In short, there are many paths, cryptocurrency is maturing, and withdrawals are the same.