The new API is part of Binance’s broader strategy to expand user protection and risk management protocols
July 27, 2021 -- Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, will launch Tax Reporting Tool, a new API that enables Binance users to easily keep track of their crypto activities and streamline reporting requirements.With the Tax Reporting Tool, users can transfer their Binance transaction history to third party tax vendors, as well as obtain real-time overviews of their local tax liabilities.
The new Tax Reporting Tool will be part of Binance’s broader strategy to expand user protection and risk management protocols. Recent updates under this initiative include revisions to daily withdrawal limits and updated leverage limits for Futures accounts.
“The fact is that in many countries around the world, crypto regulations are still evolving and we are all discovering the right path for this promising, young and exciting industry,” said Changpeng Zhao (CZ) Co-founder and CEO, Binance. “We are working hard to not only align with evolving regulatory standards but to also provide a better experience for our users, from updating safeguards to introducing new products like our Tax Reporting Tool.”
The Tax Reporting Tool will be available from 28 July, 4:00 AM UTC. Users will be able to access the Tax Reporting Tool via “Account” and “API Management'' on both the Binance Website and Binance App.
For more information on the new Tax Reporting Tool, head to How to Obtain Tax Reporting on Binance & Frequently Asked Questions.
Binance does not provide tax or financial advice. Depending on the country's tax framework, when you trade commodities and the event produces capital gains (or losses), you may have to pay taxes. The regulatory framework for taxation of cryptocurrencies differs from country to country, hence we strongly advise you to contact your personal tax advisor for further information about your personal tax circumstances. It is your personal responsibility to select the correct tax jurisdiction that applies to you. By using this tool you hereby acknowledge that Binance is not marketing or soliciting you to trade but providing you with a tool for your own personal use and for your convenience.
About Binance
Binance is the world’s leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com
Advertisements