Crypto exchange giant Binance has introduced a free tool to help users calculate the tax obligations on their crypto transactions.
February 06, 2023 | | | | Milk Road has acquired Bitcoin Price! Milk Road is the #1 crypto newsletter that is free and will make you smarter about crypto! | Click Here to Subscribe to the Milk Road | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $23,088 | Bitcoin price is sitting around the $23,000 mark once again, following a brief support test of the mid-$22,000s. | Top-20 altcoins have mostly traded flat over the last 24 hours, as Ether and BNB each gain less than 1%, Polkadot gains 1% and Tron falls 1%. | Top Stories for February 6, 2022 🔥 | | Crypto exchange giant Binance has introduced a free tool to help users calculate the tax obligations on their crypto transactions. | The tool, initially available in Canada and France, supports reporting on up to 100,000 transactions and can be used with just one click to import transactions from Binance. | The tool aims to simplify the calculation of gains and losses throughout the year for frequent traders. Binance plans to expand the tool to other regions in the future. | | Bitcoin's Layer-2 payments infrastructure, the Lightning Network, has reached an all-time high in terms of the amount of Bitcoin held in its payment channels. | The capacity has grown 63% since the beginning of last year, with over 5,490 BTC ($128 million) in capacity currently, which is seen as a positive sign for the adoption of Bitcoin transactions. | The Lightning Network is designed to enable fast and cheap micropayments by allowing participants to transact directly without the need for immediate settlement on the blockchain. | | Digital asset manager Coinshares has reported four consecutive weeks of inflows to its crypto investment products, with a total of $76 million coming in last week. | Last week's inflows bring the year-to-date total to $230 million – a figure that Coinshares describes as "highlighting a decisive change in investor sentiment for the beginning of 2023." | Bitcoin dominates the numbers, making up 90% of the previous week's figure. | | Milk Road covers the FBI owning a Bored Ape, Bitcoin holders having diamond hands, crypto rehab centers and a new "triple threat" in crypto. |
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