Binance will launch a service to help pay taxes on cryptocurrency
With the help of a new tool, users of the trading platform will be able to get a history of transactions for more than one fiscal year and generate reports on capital gains and losses
The world's largest (by trading volume) cryptocurrency exchange Binance announced July 28 the launch of a tool that will help users pay taxes when working with digital assets. The new tool will allow users to generate reports on capital gains and losses on the trading floor, as well as check local tax liabilities and obtain transaction history for more than one fiscal year.
Binance will launch a service to help pay taxes on cryptocurrency
On July 26 it became known that Binance began limiting the leverage limit for new users to 20x when trading futures. Twitter CEO of the site said that within two weeks, the leverage limit will be reduced by 5 times for all users.
Binance also notified users that trading pairs with AUD (Australian dollar), EUR (euro) and GBP (British pound) will not be available for margin trading from October 8 this year. On December 12, the site will automatically calculate and cancel all pending margin orders in pairs of AUD, EUR and GBP.
On July 23, Binance CEO Changpeng Zhao allowed for the possibility of an IPO by the cryptocurrency's U.S. subsidiary, Binance US. According to Zhao, the company may face tough regulatory requirements in the future as it transitions from a technology startup to a financial service.
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