Binance Exchange Launches Service To Help Pay Cryptocurrency Taxes

With the help of the new tool, users of the Binance trading platform will be able to receive transaction history for more than one fiscal year and generate reports on capital gains and losses.

Binance, the world’s largest cryptocurrency exchange (by trading volume), announced on July 28 the launch of a tool that will help users pay taxes when working with digital assets. Using the new tool, it will be possible to generate reports on capital gains and losses on the marketplace, as well as check local tax liabilities and get a history of transactions for more than one fiscal year.

On July 26, it became known that Binance began limiting the leverage limit for new users to 20x when trading futures. On Twitter, the CEO of the website said that within two weeks, the leverage limit will be reduced by 5 times for all users.

Binance also notified users that trading pairs with AUD (Australian dollar), EUR (Euro) and GBP (British pound) will become unavailable for margin trading from October 8 this year. On December 12, the website will automatically calculate and cancel all pending margin orders in pairs with AUD, EUR and GBP.

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