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Bet gone wrong? Crypto taxation platforms are shuttering operations, pivoting to new businesses

While the 1% TDS and 30% tax on crypto gains which took effect in 2022 threw open a seemingly lucrative business opportunity, startups which rushed to make the most of it are now back to the drawing board. Heres why.

Crypto tax reporting app Binocs helps users navigate regulations

Crypto tax reporting app Binocs helps users navigate regulations
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Crypto tax reporting app, Binocs, raises USD 4mn seed capital

Bengaluru (Karnataka) [India], September 22 (ANI/PRNewswire): Binocs, the crypto taxation and Web3 portfolio tracking platform, today announced raising USD 4 million in its seed round from global institutional investors led by BEENEXT, along with Arkam Ventures, Accel, Saison Capital, Premji Invest, Blume Ventures, and Better Capital. The company is also backed by several stellar crypto-native angel investors from the US and India. Binocs, which is launching its platform in the US, UK, South Africa, and Australia, will utilise the funds to expand its product, engineering, growth, and marketing teams. Blockchain is a living ecosystem, and cryptocurrency is one of its first use cases. Over 300 million people around the world have crypto assets in their investment portfolio, a number that is set to double by 2025. However, the financial compliance of this new asset class has become a bottleneck for investors and regulatory authorities. Founded in July 2022 by Tonmoy Shingal (Co-founder, M

Crypto tax reporting app, Binocs, raises $4mn seed capital

Binocs becomes a tax partner to BitBns; to provide accurate tax and accounting services to BitBns users

Binocs becomes a tax partner to BitBns; to provide accurate tax and accounting services to BitBns users
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