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 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.
Furthermore, clients can download and export account statements in multiple formats, as well as share the statement with up to three recipients.
Binance will ask clients to set a one-time password before exporting account statements. Binance considers privacy, security, and regulatory compliance as top priorities.
The new account statement function features will most likely increase the experience of institutional and VIP investors. Thus, increasing the possibilities of more crypto investments.
Crypto exchange Binance expanding globally to meet the mission to lead the next wave of crypto and blockchain adoption. Recently, Binance CEO “CZ” visited the Central African Republic to grow crypto adoption across Africa. The crypto exchange is also expanding its presence in several Europe and Asian countries.
Meanwhile, heated debates with crypto exchange WazirX led Binance to terminate off-chain fund transfers between both crypto exchanges.
Derivatives traders entered risk-off mode as the latest crypto market crash that intensified over the…
In a major boost for India’s crypto industry, global exchange Coinbase has re-entered the country.…
This week, the crypto market awaits a slew of U.S. economic data, a Fed statement…
Federal Reserve Governor Christopher Waller shared optimistic remarks on stablecoins today. The Fed official believes…
BitMEX co-founder Arthur Hayes remains bullish on the future of Hyperliquid (HYPE). He even believes…
Bitcoin advocate Michael Saylor has hinted at another Bitcoin acquisition by Strategy yet again. For…