- The new API is part of Binance’s broader strategy to expand user protection and risk management protocols
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.
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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.
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“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.”
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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.
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