Libra initiates a new accounting solution for the exchange of crypto-currencies

While the market capitalization of crypto-currencies exceeds 320 billions of dollars, many investors digital asset trying to find ways to amortize the capital gains and comply with the tax.

This week, the company’s accounting of crypto-currencies and Blockchain, Libra, has launched a new app to help the users of digital currencies to calculate their tax. In addition, the company has raised $ 7.8 million in the framework of the ICO to ensure the development of this tool.

A new solution to calculate your taxes

Libra has developed an application to audit dedicated to the business and the exchanges which deal with many digital assets. The company explains that the program, called ” Crypto Office “, runs the process and reports to middle office, while improving the analysis, as well as the operational and financial control. Libra has started its operations in 2014, providing applications for tax for the users of Bitcoins.

Gerd Altmann, Pixabay

The company has exploited the technology Blockchain in several public networks and software portfolio. This allows individuals and professionals to address the accounting, reporting, tax calculations in real time… Jake Benson, CEO of Libra has declared that they have found that without the right systems and process, institutional investors did not want to allocate significant investments in the industry. In the book, Philippe Herlin, entitled ” The revolution of Bitcoin and alternative currencies “, we can discover how this technology has developed in a few years. It is therefore important to regulate this market to win the trust of institutional investors.

A partnership with various large companies in the sector

According to Libra, the company is already working with two companies that focus on large transactions, Shapeshift and XBTO. Libra also has various competitors in this market. These offer compliant solutions to the tax and the crypto-audit. There are particular companies that Node40, Cointracking, Bitcoin Transaction Coordinator or Bitcoin Taxes.

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Source : NewsBitcoin