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Cryptocurrency startup ZenLedger has closed a $15 million Series B round led by ParaFi Capital, featuring Three Point Capital, King River Capital and leading Series A investor, Bloccelerate VC.
ZenLedger combines information about transactions of crypto investors on exchanges, NFT, DeFi and wallets into one control panel for tax purposes.
The company said in a press release that the ongoing movement in the field of tax enforcement has led to the fact that to date it has the most successful tax season – more than 50,000 users.
With the new funding, it will add products such as Registered Investment Advisors (RIAs) and Certified Public Accountants (CPAs) to expand its professional offerings.
“As the digital asset space matures, we expect that in the coming years, the demand for services that will help ensure compliance with regulatory and tax requirements will increase significantly,” said the head of Parafi Capital, Ryan Navi, in a press release.
These new investments come as many territories around the world begin to evaluate how to tax digital assets. More recently, Germany has confirmed that cryptocurrency sold after a year will not be taxed, while in South Korea, the government is looking for ways to mitigate cryptocurrency tax requirements.
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