Binance launches tool to help you declare tax

Charlie Taylor

Coingoback" srcset=" 700w, uploads/2022/06/Banner-Coingoback-700x150-1-300x64.jpg 300w, 150w, 585w" data-sizes="(max-width: 700px) 100vw, 700px " width="700" height="150" style="display: inline-block;"/>Binance today (28) releases the fiscal reporting tool, a new API tool to allow Binance users to easily maintain control Would this be another initiative amid the broad global regulatory oversight faced by the company and by the broad sector of crypto brokerages? See how the tool can be useful for Binance's investor.According to the exchange, the solution will allow that users track their financial activities and “speed up on reporting requirements.” Prior to this tool, traders needed to manually export transaction history. In addition, the old tool only allowed data for three months to be exported. Unsurprisingly, investors who need to comply with regulatory obligations complained. After all, calculating tax obligations manually can be tricky. That's why many regulated exchanges help investors with reports based on transaction history. In a series of tweets, Changpeng Zhao (CZ), CEO of Binance, said the changes are part of a greater focus on regulatory compliance due to supervision. faced by brokers. In recent weeks, the exchange has made a number of changes. Unverified users have had their Bitcoin withdrawal limits lowered. In addition, Binance reduced 80% of the leverage amount, further removing tokenized stock offerings.

<blockquote class=(Thread) We just hosted a 1-hour press conference to share the active steps we’re taking to build upon our efforts to be more compliant with local regulations everywhere. I’d like to share these updates with you now too.— CZ 🔶 Binance (@cz_binance) July 27, 2022

Binance faces increasing regulatory challenges in numerous countries. Regulators in the UK, Italy, Japan and Cayman Islands are investigating the exchange's transactions. Its offering of equity tokens (or “stock tokens”) has caught the attention of regulators in Europe and Asia. So this month, Binance suspended trading in these tokens. In response, CZ has focused its efforts on demonstrating that the exchange is willing to cooperate with regulators.Read more:

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