Libra Launches Enterprise Tax and Auditing Application – “Crypto Office”

nWalkout commentary: With the cryptocurrency economy’s market capitalization of more than 320 billion US dollars, the market is growing, many digital asset backers are trying to find compliance with tax law audit methods. To meet the needs of its clients, Libra, the cryptocurrency and blockchain accounting firm, this week introduced a new compliance application for market makers and exchanges. In the meantime, the company raised $ 7.8 million in round A financing to boost its business expansion and maintain its competitive advantage in the industry.n
nTranslation: Inan
Libra Launches New Tax Software for Market Makers and Crypto Currency Exchangesn


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The tax-centric tax compliance and accounting agency Libra has introduced an auditing application that serves businesses and exchanges that specialize in handling large numbers of digital assets. Libra said the program, called Crypto Office, performs “mid-range programming and reporting while improving operational and financial analysis and control.” Libra started operations in 2014, providing tax applications to Bitcoin enthusiasts and crypto-centric day traders. The company has established blockchain connectivity with multiple public networks, exchanges and wallet software. This enables individuals and organizations to conduct real-time audits, reporting and tax calculations, and to comply with regulations.n
Jake Benson, CEO of Libra, explains:n
n”In addition, we found that institutional investors are reluctant to invest huge sums in the industry without the right systems and processes.”n
nn”With the introduction of Libra Crypto Office, we want to continue working to improve the accuracy, transparency and compliance of our information.”n
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Libra raised $ 7.8 million this weekn
According to Libra, the company has partnered with two companies that specialize in large-scale transactions and heavily encrypted currency transactions, Shapeshift and XBTO. As of November 27, Libra raised a total of $ 7.8 million, having previously raised $ 2 million in seed funding through companies such as distributed capital. Investors that participated in Libra’s fundraising activities this week include Liberty City Ventures, Boost VC and early Facebook investor Lee Linden. Jake Benson, founder of Libra, explains that the funds will be used to extend Libra’s tax applications and data services.n
Benson said:n
n”Our service for our customers consists of three core components: first, an on-ramp connecting numerous data sources in the ecosystem; followed by real-time data processing engines and services that require continuous and automated standardization and provide accurate financial information; and third Is a blockchain native created specifically for this industry. “n
nLibra has several competitors in the cryptocurrency industry and also offers software that adheres to tax laws and crypto-audits such as Node40, Cointracking, Bitcoin Transaction Coordinator and Bitcoin Taxes.n

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