The tool itself is an advantage for users of Binance who move large chunks of money and have to declare their income and every other details to their local authorities. I don't think there is any disadvantage on this tool. The disadvantage many people complain about is to have to declare income and pay taxes to the government, although it's an inevitable part of the deal when using centralized services.
i'm already complaining before it will be launched in my country. i read the tools will compute each transaction you make. i have no problem paying but what i'm not curious is if the government will ask the taxes on the ancient transactions we did before the crypto tax law.
Usually when a new law is passed it can't be used retroactively to punish previous events, so you probably don't have to worry about past transactions. I don't know if it's a general consensus in every countries, though.
it's not fair actually for crypto users since our transactions are audited and can be seen on the public ledger. our taxes should also be seen where it's spent on the government's public ledger as well.
Doesn't your government have an online "transparency portal" where citizens can see what portion of their money is going to each sector, like education, health, security, infrastructure... ?
