Crypto麻子新
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Recently, Binance has launched many "ONDO US stock tokens". Some people are asking: Does this mean that in the future, we won't need to open a US stock account to buy US stocks? Others are saying we can "avoid taxes on-chain"? Let me get straight to the point.
First, let's clarify what these tokens actually are: they are not stocks; they are just tokens linked to stock prices. There are indeed institutions that hold real stocks behind them, and then issue a 1:1 token on-chain. Binance is simply treating these tokens as currencies for trading. What you see as HOODon, AMDOn, APPon, COINon are actually "shadows" of stocks, with prices consistent with US stocks, but buying them does not equate to owning the stocks themselves, nor do you have shareholder rights. Binance has also stated that tokens ≠ stocks, and the risks are borne by you, including liquidity, contract vulnerabilities, and third-party custody issues.
As for those saying you can avoid taxes, this is actually just a regulatory loophole: buying tokens on-chain does not go through brokers, nor does it enter the clearing system, so the US tax authorities temporarily cannot track your actions, nor will they record real-name information. But be aware, if you make money, you still have to pay capital gains tax, and losses can offset future gains, which cannot be avoided.
Where are the risks? First, the credit of the tokens completely relies on the issuer; if the custodian has issues, policies tighten, or redemptions are suspended, the tokens may decouple. Second, US regulation may tighten at any time; the SEC has repeatedly focused on tokenized stocks. Third, liquidity is limited, and large amounts of funds can easily affect prices, making it unsuitable for heavy positions or long-term investment.
In summary, on-chain US stocks are more like short-term trading tools; small funds can engage in short-term arbitrage or hedging. For those looking to hold stocks long-term, receive dividends, or be shareholders, going through a regular broker is the safest. Thinking of using it to avoid taxes? Don’t hold onto such illusions. Heavy positions in US stocks? The risks are too great and unsuitable. In simple terms: on-chain US stocks are the US stocks of the crypto world, not the US stocks of the traditional stock world.
First, let's clarify what these tokens actually are: they are not stocks; they are just tokens linked to stock prices. There are indeed institutions that hold real stocks behind them, and then issue a 1:1 token on-chain. Binance is simply treating these tokens as currencies for trading. What you see as HOODon, AMDOn, APPon, COINon are actually "shadows" of stocks, with prices consistent with US stocks, but buying them does not equate to owning the stocks themselves, nor do you have shareholder rights. Binance has also stated that tokens ≠ stocks, and the risks are borne by you, including liquidity, contract vulnerabilities, and third-party custody issues.
As for those saying you can avoid taxes, this is actually just a regulatory loophole: buying tokens on-chain does not go through brokers, nor does it enter the clearing system, so the US tax authorities temporarily cannot track your actions, nor will they record real-name information. But be aware, if you make money, you still have to pay capital gains tax, and losses can offset future gains, which cannot be avoided.
Where are the risks? First, the credit of the tokens completely relies on the issuer; if the custodian has issues, policies tighten, or redemptions are suspended, the tokens may decouple. Second, US regulation may tighten at any time; the SEC has repeatedly focused on tokenized stocks. Third, liquidity is limited, and large amounts of funds can easily affect prices, making it unsuitable for heavy positions or long-term investment.
In summary, on-chain US stocks are more like short-term trading tools; small funds can engage in short-term arbitrage or hedging. For those looking to hold stocks long-term, receive dividends, or be shareholders, going through a regular broker is the safest. Thinking of using it to avoid taxes? Don’t hold onto such illusions. Heavy positions in US stocks? The risks are too great and unsuitable. In simple terms: on-chain US stocks are the US stocks of the crypto world, not the US stocks of the traditional stock world.
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