Binance, the leading blockchain ecosystem and cryptocurrency infrastructure provider, has launched a new crypto tax tool in Italy called Tax Assistant. The tool allows Italian users to access their crypto asset details and download a summary report of gains or losses on Binance.
This report aims to help users prepare and file their tax returns in accordance with Italian regulations on crypto-assets taxation. Binance's Tax Assistant project was initially tested in France and has now been extended to other countries, including Italy.
To solve the problem of clogged BTC's network due to a surge in inscriptions with Bitcoin's Ordinal NFTs, Binance has integrated Bitcoin's Lightning Network into its platform. This move was necessary to find a solution to the problem and scale the Bitcoin blockchain.
Additionally, Binance has launched a new reality show called Build The Block, which involves 12 industry startups competing against each other in a crypto-themed entrepreneurial challenge. The show will be live and interactive, with audience participation and a panel of judges. Build The Block is Binance's latest innovative experiment in the metaverse.
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