Finding an auditor for the whole balance sheet is difficult given the complexities of auditing crypto assets due to challenges like price volatility. Source
Binance APAC Head Suggests Full Audit of the Crypto Exchange Isn't Happening Soon: Bloomberg
Tag: Binance
Binance to support users in Turkey’s earthquake region with $100 airdrops in BNB tokens
The devastating earthquake that hit Turkey on Feb 6 has left a trail of destruction in its wake, affecting numerous communities and individuals. In response to the tragedy, cryptocurrency exchangeBinance has announced that it will airdrop $100 USD worth of BNB tokens to all Binance users residing in regions hardest hit by the earthquake. The process of identifying eligible users will involve checking Proof of Address (POA) submissions made before February 6th in ten cities affected by the earthquake, including Adana, Adıyaman, Diyarbakır, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Şanlıurfa, and…
WazirX Calls Binance Allegations 'False and Misleading,' Plans to Seek Recourse
WazirX Calls Binance Allegations 'False and Misleading,' Plans to Seek Recourse Source
Binance Halting US Dollar Deposits and Withdrawals via Bank Accounts – Exchanges Bitcoin News
Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said. Binance Suspending USD Deposits and Withdrawals Global cryptocurrency exchange Binance is reportedly suspending withdrawals and deposits in U.S. dollars using bank accounts starting Wednesday. Without providing a reason, a spokesperson for Binance told CNBC: We are temporarily suspending USD bank transfers as of February 8th.…
Binance to temporarily suspend bank transfers in US dollars beginning Feb. 8
Binance has announced that it is temporarily suspending bank transfers in United States dollars (USD) beginning Feb. 8. No other trading methods will be affected, the exchange said in a tweet on Feb. 6. The news came with no explanation, although the company, which is the world’s largest cryptocurrency exchange, added in the same tweet that: “We are working hard to restart the service as soon as possible. […] All other methods of buying and selling crypto remain unaffected.” Binance CEO Changpeng Zhao (CZ) said in a separate tweet: “It…
Crypto Exchange Binance to Suspend US Dollar Bank Transfers This Week
“In the interim, all other methods of buying and selling crypto remain unaffected, including bank transfer using one of the other fiat currencies supported by Binance (including euros), buying and selling crypto via credit card, debit card, Google Pay and Apple Pay and via our Binance P2P marketplace,” the spokesperson added. Source
Crypto Exchange Binance Introduces Tool for Calculating Taxes on Transactions
The aim of Binance Tax is to simplify the calculation of gains and losses throughout the year. For frequent traders, this could amount to thousands of transactions, meaning many hours of work to ensure correct calculation. Still, the product is in an early phase and does not support all types of transactions. Users will need to make adjustments. Source
Binance Exchange Floats New Tax Return Reporting Tool
The launch of the Binance Tax product in France has tagged a stepping stone for the service that will soon be made available in other countries around the world. The Binance exchange, the world’s largest crypto brokerage firm by trading volume, has announced the launch of its Binance Tax product to help simplify the process of filing tax returns for its customers. Per a Press Release shared with Coinspeaker, the Binance Tax tool will first be available to customers in France before it is eventually rolled out to other customers…
Binance Tax launched to prepare crypto users for the tax season
For many countries, the tax season is right around the corner, which means companies in the crypto industry will need to be ready to help their users comply with local regulations. On Feb. 6, crypto exchange Binance announced it is launching a tax reporting tool to help users stay on track of their crypto transactions for tax reporting purposes. According to the announcement, Binance Tax lets its users download a tax summary report which includes any gains or losses which have occurred throughout the year in their Binance account. This…
Binance to Support Georgia’s Crypto Industry Through Blockchain Education – Exchanges Bitcoin News
Digital asset exchange Binance has agreed to help Georgia to develop its cryptocurrency sector by launching educational and other blockchain initiatives. The leading coin trading platform has been expanding its presence in the region with similar projects in other countries. Binance and Georgian Tech Agency to Jointly Develop Country’s Crypto Economy The world’s largest cryptocurrency exchange, Binance, announced the signing of a memorandum of understanding with Georgia’s Agency for Innovation and Technology (GITA). The sides intend to work together on the implementation of educational and community initiatives in the blockchain…