Libra, a New York-based start-up operating in the blockchain space, is introducing a brand new tax app that is designed to make it easy for cryptocurrency exchanges and funds to make use of secure cryptocurrency technology to carry out accounting operations of all kinds.
The Libra Crypto Office app is being positioned as a tool to leverage the wonders of cryptocurrency to streamline data collection and regulatory compliance operations. The app is even capable of automatically harnessing dynamic data that's relevant to compliance.
Additionally, the Libra Crypto Office tax app is designed while keeping in mind the need to scale up services over time.
While the cryptocurrency market has lots of promise, it has also thrown up a variety of challenges relating to the taxation realm, which is why the introduction of this app could prove to be a godsend for cryptocurrency-based businesses.