Focusing on the transition of investors to support innovative projects in the blockchain ecosystem, a provider of cryptographic tax calculation software, TaxBit has raised $ 130 million from investors.
According to the official ad, this round of financing was preceded in January by a $ 100 million capital led by IVP and Insight Partners. Other angel investors, including FTX Derivatives founder and CEO Sam Bankman-Fried, also joined the round.
Investors are particularly optimistic about TaxBit’s proposed solutions that will allow all cryptographic stakeholders to tax their tax liabilities accurately and efficiently. Not only is enterprise software useful to cryptographic investors, but it is also an important tool for regulators to provide proper oversight to industry.
FTX CEO Sam Bankman-Fried said:
“FTX US is excited to partner with TaxBit to bring a world-class tax experience directly to our platform. FTX US users will have access to portfolio performance reports, tax optimization tools and year-end tax forms that make it easy for users TaxBit technology supports FTX’s commitment to compliance and focus
U.S. tax authorities and authorities around the world are constantly looking for ways to promote tax compliance among cryptocurrency investors or traders. South Korean tax authorities want to import compliance 20% capital gains tax on cryptographic gains.
TaxBit is developing this tool to help with proper monitoring and compliance for both investors and regulators. However, according to the company, the new funding will be used to strengthen and expand the workforce in the United States and the United Kingdom.
“TaxBit uses the funds to scale the multi-channel tax and accounting offering company, consumer and public authorities. The company plans to double its staff by the end of the year and continue to open new offices in the United States and the United Kingdom to promote international expansion, ”the press release said.
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