Binance to Acquire DappReview

Binance will be able to continue the development of existing dapps and create new scenarios for using the DLT with this deal
03 December 2019   129

The Binance cryptocurrency exchange has acquired a Chinese platform for evaluating DappReview decentralized applications, CoinDesk reports.

Thanks to this, Binance will be able to continue the development of existing decentralized applications and create new scenarios for using the blockchain, said the founder of the Binance's Trust Wallet, Viktor Radchenko.

In the near future, Trust Wallet will integrate DappReview APIs to provide easy access to explore new dapps and crypto games, as well as more insight into DeFi [decentralized finance] services, analytics and usage.

Viktor Radchenko

Founder, Trust Wallet

Binance, for its part, will offer DappReview support in non-technical areas, including marketing and business development, and the platform will retain its independence in matters of technical and operational activities. In the first quarter of 2020, DappReview will introduce a new set of data-oriented products.

The acquisition of DappReview also means that Binance will now have its own subsidiary in Beijing. The company refused to disclose the financial details of the transaction.

DappReview was founded in March 2018 and provides data-based analytical services for more than 3,900 decentralized applications, including wallets and exchanges, in 13 public blockchains, including Ethereum, EOS and TRON.

Danish Tax Agency to Require BTC Traders to Report

In addition to info on profit and loss from 2016 to 2018, users must provide a lot of different date including info on created wallets
11 December 2019   109

The Danish Tax Administration has begun sending out letters to local traders asking them to provide comprehensive information about cryptocurrency transactions over the past few years. It is reported by Cointelegraph, citing its own sources.

In addition to information on profit and loss from 2016 to 2018, users must provide data on asset prices at the time of the transaction, the purpose of acquiring digital currency, as well as information about the created wallets.

In addition, users need to take a screenshot to confirm trading activity, on which should be the name of the trader and information about creating an account. The agency also intends to obtain bank statements from traders for the above period.

Many of our Danish users have received these letters, Skat is asking for a full breakdown of all their transactions and asking them to fix all past reports as well. Filing tax on cryptocurrency trades is a difficult task as crypto traders usually hold several exchange accounts & wallets and freely transfer crypto between them, so there’s no easy way to figure out what the capital gains are for any particular trade.

Robin Singh

Founder, cryptocurrency tax startup Koinly

The journalists was contacted by the founder of crypto tax startup with appropriate comment, which you can check above.