The Future Coin

Bitcoin

$49,372.02

BTC 0.98%

Ethereum

$1,609.20

ETH 1.98%

XRP

$0.47

XRP -1.30%

Litecoin

$179.52

LTC 1.09%

EOS

$3.87

EOS 0.52%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Policy & Regulations

Algorand and Blockchain.com users can now report taxes and transactions via a new tool

by The Future Coin
May 8, 2020
in Policy & Regulations
0
Algorand and Blockchain.com users can now report taxes and transactions via a new tool
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Algorand and Blockchain.com are getting a much-needed boost, the two firms are integrating with a crypto accounting and tax platform to help users easily manage financial implications on decentralized transfers and crypto storage.

Integrating with Verady

As per a release shared with CryptoSlate, Algorand and Blockchain.com will get added to Verady’s “Ledgible” product, allowing users to automatically report cryptocurrency activity and tax accounting.

Verady believes the development helps enterprise users and institutions to consider cryptocurrencies as a potential investment sector. Products for crypto-accounting do exist on the market, but none have integrated with a decentralized asset transfer exchange such as this partnership.

Kell Canty, the co-founder of Verady, states the firm is “determined” to help the institutionalization and progress of the broader cryptocurrency market. Verady has been around since 2016 and features over 15 other exchange partnerships, as displayed on its integrations webpage.

Algorand, founded in 2017 and issuer of the ALGO token, brands itself as a firm “dedicated to removing friction from financial exchange.” The protocol allows the token holders to issue native assets, tokenize products and services, and attach privacy models to existing software.

Sean Ford, COO of Algorand, spoke of the development:

”One of Algorand’s goal is to enable enterprises to easily embrace the opportunity that blockchain provides. Broadly applicable financial reporting tools like Ledgible Accounting further that goal.”

The other partner, Blockchain.com, boasts over 48 million wallet users and does not feature an easy-to-use accounting or financial reporting tool. Ledgible addition would mean tax season gets simpler for users to track transactions and avoid any penalties.

Accounting an important aspect

New product and service offerings, like Ledgible’s professional-grade accounting, can presumably spur mainstream adoption by leveraging blockchain technology.

Firms like Verady suppose the introduction of such solutions while ensuring they are widely available and accessible would help newer users become conversant with cryptocurrencies similar to traditional financial solutions.

Government sentiment around the world remains mixed on cryptocurrencies. But as several reports show, financial bodies are pushing for increased regulation and taxation of digital assets, if tokens are to be accepted in the economic framework.

Meanwhile, Algorand was in the news recently. CryptoSlate reported a “venture studio” was onboard to help develop the company’s underlying ecosystem. Not all is well on the token side thou, ALGO finished as the “worst performing ‘major’ crypto” in 2019, with a 90 percent drop compared to other large-cap tokens.

Cover Photo by The New York Public Library on Unsplash

Start earning with Cred

Posted In: Partnerships, Taxes

Source link

EDITOR’S CHOICE

Crypto Influencers: Top 5 People Making Waves in the Market This Week - Feb 17-24

SEC Action Could Have Rippling Effects on Future of Cryptocurrency | Snell & Wilmer

Planning to Short Bitcoin? Better Check China’s ‘Tether Premium’ First - Yahoo Finance

Here’s How To Avoid Getting Burned in the Altcoin Market, According to Coin Bureau

Surf the blockchain wave with confidence |

Biden’s Supply Chain Executive Order Should Remind All Business Leaders To Be Prepared For A Crisis

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 48,961.00
ethereum
Ethereum (ETH) $ 1,596.16
binance-coin
Binance Coin (BNB) $ 247.54
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 1.03
polkadot
Polkadot (DOT) $ 32.74
xrp
XRP (XRP) $ 0.463077
litecoin
Litecoin (LTC) $ 177.63
chainlink
Chainlink (LINK) $ 27.53
bitcoin-cash
Bitcoin Cash (BCH) $ 520.18
stellar
Stellar (XLM) $ 0.402415
usd-coin
USD Coin (USDC) $ 1.01
uniswap
Uniswap (UNI) $ 24.67
dogecoin
Dogecoin (DOGE) $ 0.056387
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 48,809.00
okb
OKB (OKB) $ 17.96
nem
NEM (XEM) $ 0.512021
cosmos
Cosmos (ATOM) $ 19.32
solana
Solana (SOL) $ 17.14
aave
Aave (AAVE) $ 358.58
crypto-com-chain
Crypto.com Coin (CRO) $ 0.158794
eos
EOS (EOS) $ 3.85
monero
Monero (XMR) $ 204.47
bitcoin-sv
Bitcoin SV (BSV) $ 193.96
huobi-token
Huobi Token (HT) $ 19.05
tron
TRON (TRX) $ 0.046999
theta-token
Theta Network (THETA) $ 3.26
iota
IOTA (MIOTA) $ 1.16
neo
NEO (NEO) $ 39.77
terra-luna
Terra (LUNA) $ 6.53
havven
Synthetix Network Token (SNX) $ 18.57
vechain
VeChain (VET) $ 0.041915
tezos
Tezos (XTZ) $ 3.47
ftx-token
FTX Token (FTT) $ 29.37
dai
Dai (DAI) $ 1.00
dash
Dash (DASH) $ 232.33
binance-usd
Binance USD (BUSD) $ 1.01
the-graph
The Graph (GRT) $ 1.84
cdai
cDAI (CDAI) $ 0.021252
avalanche-2
Avalanche (AVAX) $ 28.28
kusama
Kusama (KSM) $ 235.17
compound-ether
cETH (CETH) $ 31.92
maker
Maker (MKR) $ 2,199.76
filecoin
Filecoin (FIL) $ 36.23
celsius-degree-token
Celsius Network (CEL) $ 5.06
elrond-erd-2
Elrond (EGLD) $ 112.46
leo-token
LEO Token (LEO) $ 1.92
compound-governance-token
Compound (COMP) $ 424.16
sushi
Sushi (SUSHI) $ 14.20
decred
Decred (DCR) $ 141.80