Why is CoinAlpha (Hummingbot) collecting W9 and W-8BEN forms from Users earning $600 or more in rewards?

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Please be advised that any of these forms should be sent only by the main account holder. Any request to process this on behalf of the main account holder is invalid.

CoinAlpha, Inc. (the creator of Hummingbot) is a US-based company and US IRS tax-filer. It is therefore required to document and track any payments exceeding $600 for each calendar year and provide those recipients with related documentation.

For U.S. persons: we use the form W-9 information to provide you with a Form 1099.
For non-U.S. persons: by signing Form W-8BEN, the miner is certifying that he or she is not a U.S. person. The Form W-8BEN is not filed with the U.S. IRS. If audited, the Form W-8BEN supports why no Form 1099 was issued and why no tax was withheld for residents of a country with a tax treaty with the U.S.

Click here to learn more about liquidity mining policies.