Crypto tax startup TaxBit is looking to raise funds for their startup to turn into a Unicorn startup.
TaxBit is a Salt Lake City, Utah-based crypto tax startup. This is actually a company which is working to provide software for crypto tax. Through TaxBit users can track their tax according to trade on the trading Exchange in advance. This startup is currently under a group of CPAs, tax attorneys and software developers. Now they want to make it a unicorn.
According to reports, TaxBit is in talks to raise capital (actually a person who is involved/knows this matter informed). While TaxBit denied to tell anything about their plan and also not ready to reveal any report on this matter. Probably they want to announce it in the official domain later, after full confirmation of the transformation of TaxBit into Unicorn ( a $1billion independent company).
Last year TaxBit raised $100 million to expand their services in Europe. Read about it here in detailed.
Earlier TaxBit revealed that for their raised fund of $100 million they were hired by The United States Internal Revenue Service to provide & analyse tax & data records of Tax payers of crypto services.
Regulators and experts believe that such types of startups are helping at their best to help and confirm the regulation of the Cryptocurrency market in a real manner. And also The United States Internal Revenue Service considered Crypto in assets class property that means users should have to pay tax.
Probably TaxBit like startups are working in the Cryptocurrency industry to support crypto at that level where regulation and legalization is easily possible. And also helping government authorities to help them in such tedious calculation problems of crypto tax related system. And it is also expected that soon TaxBit will became unicorn and officials also says that they will reveal after finalized everything.