World’s largest crypto exchange BINANCE on Tuesday said it has upgraded the account statement function feature to support the tax, audit, and compliance needs of institutional and VIP investors. Simplifying these complex obligations may further push crypto investments by institutional and VIP investors.
Binance Eases Tax, Audit, and Compliance for Institutional and VIP Investors
Binance in an official blog on August 9 announces upgrading the account statement function to simplify the tax, audit, and compliance needs of institutional and VIP investors. Moreover, clients will be able to view and download historical data of their assets on the website. The features are not available on the mobile version.
It will help institutional and VIP investors to better manage their tax and audit reporting obligations. Managing account balances is critical for accounting purposes and sending reports to third parties such as auditors. Binance’s institutional-quality data and reporting services are certified and accepted globally.
After the upgrade, the account statement function now supports “Earn Wallet snapshot,” “File sharing and PDF export,” and “Password protection.”
Clients will see daily snapshots of their asset holdings across spot, margin, futures, and other wallets. The snapshot will also show accumulated interest in the Earn Wallet. Clients will be able to select either BTC, BUSD, or USDT as their preferred options to show account balances. The account statement also provides exchange rates for BTC, BUSD, and USDT.
