.binance has introduced a tool to help users calculate the tax obligations on their crypto transactions. By JamieCrawleyCD
for non-compliance with reporting requirements.
The aim of Binance Tax is to simplify the calculation of gains and losses throughout the year. For frequent traders, this could amount to thousands of transactions, meaning many hours of work to ensure correct calculation. Still, the product is in an early phase and does not support all types of transactions. Users will need to make adjustments.
"In one click, you can now import your Binance transactions into our calculator and obtain a simple yet comprehensive estimate of your tax obligations depending on your jurisdiction,"
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