Cryptocurrency Wallet Company Ledger Has Integrated Tax Solution to Streamline Reporting

The integration focuses primarily on U.S. tax standards, with particular emphasis on the extremely difficult tax reporting requirements for U.S. customers. According to Rochet, the software tool will continue to be available to Ledger Live users outside the United States.

"With more than 3.5 million people worldwide using Ledger hardware wallets and about 20 percent of digital assets held in Ledger devices, we continue to observe a proliferation of Ledger products in use in the United States," he said.

Rochet noted that Ledger Live has integrated with various regulated financial services platforms, including MoonPay and Wyre, to support know-your-customer and anti-money laundering protocols. "Our partnership with MoonPay and Wyre has also allowed us to develop a fiat currency that is superior to self-custodial crypto portals," he continued.

ZenLedger, which was founded in 2018, offers non-custodial crypto tax software that aggregates customer transactions and calculates tax obligations using public addresses. ZenLedger's contract with the IRS Civil and Criminal Investigations Division was renewed last month (IRS).

The new integration comes just days before the upcoming tax deadline, which is April 18 for U.S. residents. The crypto community has been working to help U.S. crypto investors report their taxes. Engiven, a large commercial cryptocurrency donation platform, launched its IRS tax forms and valuation service last month to simplify tax reporting for cryptocurrency donors and NGOs.