No Hiding Place For Tax Evaders As Bitcoin Tax Reporting Software Is Acquired - MnTrendsNews


Thursday, 1 February 2018

No Hiding Place For Tax Evaders As Bitcoin Tax Reporting Software Is Acquired

A publicly traded crypto miner based in Canada has just placed an $8 Million bet that all Bitcoin users around the globe will eventually be forced to declare and report their taxes to the appropriate authorities.

Hashchain Technology Inc., a cryptocurrency mining company has taken a bold step in the cryptocurrency industry by diversifying  the business to include Tax report. The cryptocurrency mining  company purchased Node40LLC for $8 Million subject to the TSX Venture Exchange.
This move will place it in control of the Node40's team of Software Reporters.

Node40 develops a cryptocurrency reporting software that works directly with a few major cryptocurrency exchange. The software can also help American Bitcoin users, traders and miners disclose their transactions to the IRS and know their tax liability.

Patrick Gray, Founder and CEO of Hashchain reassured clients that while mining remained a principal focus of the company, they were still exploring ways to create a global blockchain technology company and buying Node40 is a step in that direction.

Hashchain further stated that the expectation that many other countries will join countries that have imposed strict regulations on cryptocurrency is high.

The technology they said is positioned to work directly with tax officials and adapt to their requirements. Node40 also provides a masternode hosting service for each dash cryptocurrency.

What do you think about this? And how do you report your transactions to the tax office? Please share your views in the comments section and subscribe to our newsletter. and Like our Facebook Page Mntrends Blog

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