Kategorie: Crypto Business

• Binance Tax allows users to calculate taxes on up to 100,000 transactions.

• The service is currently available to users in Canada and France.

• Binance wants the tool to help its users keep up with their tax obligations.

Binance Tax is now available to users in France and Canada

Binance, the world’s leading cryptocurrency exchange by trading volume, announced on Monday, February 6th, that its Binance Tax tool is now available to its users in France and Canada.

In its blog post, Binance explained that the new tool is designed to help users calculate the tax obligations on their crypto transactions. This latest cryptocurrency news comes as more governments around the world look to ensure they don’t miss out on revenue from the crypto industry.

While explaining the tool, Binance wrote that;

“In one click, you can now import your Binance transactions into our calculator and obtain a simple yet comprehensive estimate of your tax obligations depending on your jurisdiction.

Binance Tax is still in an early launch phase, and as such, its algorithm does not yet cover all the types of transactions within our vast ecosystem. Binance users should adjust accordingly in their final tax report.”

Binance Tax can report up to 100,000 transactions

The world’s largest cryptocurrency exchange added that the Binance Tax tool is free for its users in Canada and France to use. The tool supports up to reportable 100,000 transactions, ensuring that most users will capture their cryptocurrency transactions on Binance during a select period.

However, Binance explained that the product is still in its early stage and might not support some products. 

The crypto exchange added that Binance Tax provides detailed information on the transactions users make on its platform. The information helps users file their taxes, including but not limited to: spot trades, crypto donations, and even blockchain fork rewards.

While the tool is only available to users in Canada and France at the moment, Binance could roll it out to its users in the United States and other parts of the world in the coming months or years.

The post Binance introduces Binance Tax for calculating taxes on transactions appeared first on CoinJournal.

• Binance says WazirX has till 3 February 2023 at 23:59 UTC to withdraw assets from its accounts.
• According to Binance, Zanmai Labs, the company behind WazirX, has failed to retract misleading public statements about their relationship.
• Changpeng Zhao said in August 2022 that Binance never acquired WazirX and that it only offered wallet services to the exchange.

Binance, the world’s largest crypto exchange, has terminated wallet services it has been offering to Indian cryptocurrency exchange WazirX.

An announcement Binance published on Friday, 3 February 2023, notes that the decision to halt the wallet service relates to Zanmai Labs, the company that operates WazirX. As explained in the blog post, Zanmai has severally put forth misleading claims about its relationship with Binance.

In particular, claims that Binance had control over WazirX user funds and exchange operations is a misleading narrative that Zanmai has continued to perpetuate.

Binance halts wallet services to WazirX operator

Due to all the false claims, Binance says it gave Zanmai the opportunity to retract the misrepresentations if they wanted to still benefit from the wallet services. That hasn’t happened and it’s the reason for the move.

According to Binance, the relationship between it and Zanmai has only been around the provision of wallet services. These, the exchange added, are offered “as a tech solution” to help power WazirX’s exchange operations and that this isn’t unique to Zanmai. 

The wallet service is similarly offered to other companies that leverage the technology and infrastructure to run their own businesses.

“On 26 January 2023, we offered Zanmai a choice between retracting the false public statements (and continuing to use our services) or terminating the use of our wallet service. Since Zanmai has refused to clarify their misleading statements, Zanmai has till 3 February 2023 (23:59 UTC) to remove the funds from the accounts that they used for WazirX’s operations,” Binance wrote.

Reportedly, Zanmai is ready to withdraw all WazirX assets from Binance accounts. Binance is also offering to allow the withdrawals to extend beyond 3 February. The process will not impact Binance users, the exchange noted.

In August last year, Binance CEO Changpeng Zhao explained that although his company had announced its acquisition of WazirX in 2019, the deal never materialized. Zhao’s comments came as the Indian government froze WazirX accounts amid investigations into a money laundering scheme.

The post Binance terminates wallet services to WazirX appeared first on CoinJournal.

• Premier League and Sorare announced the four-year deal on Monday.
• The licensing deal is worth £120 million (about $150 million).
• Premier League fans will be able to buy, trade and sell digital collectibles of their favourite teams and players while playing Sorare Manager.

The English Premier League has sealed a four-year licensing deal with Sorare, a French-based fantasy game and digital trading marketplace.

According to a report by CityAM, the deal is worth £120 million ($150 million).

Premier League expanding fans’ NFT experience

The partnership will allow football fans, especially of the English Premier League, from across the world to build teams and compete for huge rewards. Fans looking to become Sorare Managers can take part in the Ethereum-based non-fungible token (NFT) platform’s Premier League fantasy competition.

So, you want to manage your own Premier League club?

Build your squad on @Sorare, climb the ranks, and compete for big rewards – just like a real football club owner. #BuildYourLegacy

Play now: https://t.co/OTEH21MBEX pic.twitter.com/PqSXElKqJj

— Premier League (@premierleague) January 30, 2023

Fans can now tap into the NFT experience, enjoying their favourite sport via digital cards, Sorare noted in a blog post. Notably, fans will be able to collect, buy and trade licensed digital collectibles featuring players from the 20 Premier League clubs.

“The team and I at Sorare are beyond excited to announce an exclusive, deep partnership with the Premier League. What a crazy ride to get there, from our club deal with West Ham in 2019 to onboarding the 20 clubs of the football heavy-weight, watched by 800m+ in the world,” Nicholas Julia, co-founder and CEO of Sorare tweeted.

Richard Masters, the Premier League chief executive, said that fans’ support of teams and players has and continues to evolve. The goal is thus to look for more ways to engage the supporters, which this deal with Sorare offers.

“Sorare’s digital cards and innovative online game represent a new way for them to feel closer to the Premier League whether they are watching in the stadium or from around the world. We believe that Sorare are the ideal partner for the Premier League and we look forward to working closely together,” Masters added.

With this partnership, the PL becomes the latest to join a portfolio that includes top European leagues LaLiga, Bundesliga and Serie A. Sorare also has similar partnerships with the NBA and MLB. Sorare also has sports deals with over 300 clubs. 

Sorare credits these partnerships to the input of world-class athletes,including Serena Willians, Kylian Mbappe and Rudy Gobert among others. 

The post Premier League inks major NFT partnership with Sorare appeared first on CoinJournal.

• The partnership sees Stake become a co-title sponsor for the 2023 F1 season and beyond.
• The Alfa Romeo F1 Team will take on a new identity as Alfa Romeo F1 Team Stake.
• Stake co-founder Bijan Tehrani said the crypto casino will use the partnership to bring more people to the digital space.

Stake.com, a leading online casino and betting platform, has sealed a multi-million dollar sponsorship deal with the Alfa Romeo F1 Team.

According to a press release from the Formula One team, Stake has agreed to be the official co-title partner in a multi-year partnership that will help Stake increase its fan base across the world. The partnership will increase the crypto gambling platform’s brand recognition as it makes entry into a new market with diverse users.

Stake in ground-breaking partnership

Ahead of the 2023 Formula One season, the partnership will see Alfa Romeo’s team identity changed to Alfa Romeo F1 Team Stake. Meanwhile, Stake will use the partnership to bring more people to the digital space, the platform’s co-founder Bijan Tehrani said in a statement.

“We could not be more thrilled to join a legendary F1 team that shares with us the same ambitions of growth and success,” he noted.

The two companies will work together to expand the online casino’s opportunities, with fan engagement programs initiated alongside the Formula One calendar. The firms hope to make race weekends even more engaging and eventful for fans, with brand recognition enhanced via visibility on the Alfa Romeo F1 Team Stake.

The crypto gambling platform, founded in 2017, will also benefit from the Alfa Romeo F1 Team Stake’s partnership with live streaming platform Kick.com. The community-driven platform will further increase Stake’s visibility to a global audience.

With this deal, Stake’s portfolio now includes some of the best in the global sports and entertainment industry, including music, soccer and mixed martial arts. Two of the biggest names in the world of sports and entertainment who have deals with Stake are Canadian superstar Drake and Argentinian footballer legend Sergio Aguero.

The post Crypto casino Stake partners with Alfa Romeo F1 Team appeared first on CoinJournal.