Binance Launches Tax Tool Amid Increasing Of Tax Calculation Hurdles

On Feb 6, 2023

Binance Crypto Exchange launched a Tax tool for France-based users only.

Binance is a top-ranked digital assets trade platform, in terms of 24-hour crypto trade volume on this platform. This exchange was initially founded in 2017 and to this date services of this exchange are allowed in the majority of countries. Interestingly, Binance is regulated in the majority of the countries, where a crypto regulation framework is available.

On 6 Feb 2023, the Binance exchange announced that Binance launched a free “Tax Tool” to help Binance users to calculate the crypto tax easily.

For now, Binance Tax Tool is available for Binance France customers and later it will be available in other countries also.

Taxes can get complicated, especially in crypto.
To help, we’ve added a new tool called #Binance Tax.
Launching initially in France, with plans to introduce it to other regions, Binance Tax allows users to better understand the taxes they owe.https://t.co/r4ffSew8R3
— Binance (@binance) February 6, 2023

Indian Crypto Company KoinX, a coin tracking & tax calculator platform, invited Binance CEO Changpeng Zhao (CZ) to talk about the Indian Crypto tax system so that Binance can easily introduce a crypto tax tool for Indian crypto traders.

Hey, @cz_binance we would be happy to chat if Binance is looking up crypto taxation for its Indian Users.
— KoinX (@getkoinx) February 6, 2023

Binance & transparency

The main reason behind the success of the Binance exchange is its transparent operations, which helps it to grab the trust of crypto investors.

Recently Binance CEO tweeted that any person can share his selfie with him on Twitter or any other platform but that person is not allowed to promise that Binance will list or may consider listing his project token.

CZ said that Binance will automatically block all such types of projects & people linked to the project, in case Binance will find any kind of such prior token listing information.

Binance’s CEO also suggested people report this thing so that Binance can easily stop the token price manipulation.

For all those that took selfies with me at SRT (Chatham House Rule) or anywhere, you are free to share them.
Just don’t use it to say “hey see I am close with CZ and our project will list on #Binance.” That’s an automatic blacklist on our side.
Happy posting.
— CZ 🔶 Binance (@cz_binance) February 5, 2023

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