Today ZenLedger announced a $6 million Series A funding round led by Bloccelerate VC, bringing cumulative investment to $11.5 million. A high profile investor in the cryptocurrency tax software and analytics firm is Mark Cuban’s Radical Ventures, one of several participants.
With the rapid growth of the digital asset industry, regulatory bodies such as the J5 (Joint Chiefs of Global Tax Enforcement) and the IRS have implemented more stringent reporting measures for cryptocurrency transactions and investments. That’s apart from the new Senate Infrastructure Bill, which aims to extend the reporting even further.
ZenLedger aims to make investing in cryptocurrency easier for users through a digital workflow platform that adheres to IRS and SEC regulations. Its existing solution supports tax filing and provides financial analysis.
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