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Ernst & Young has launched an app for paying tax on cryptocurrency

Ernst & Young has launched an app for paying tax on cryptocurrency

Part of the “Big Four” audit companies, the British Ernst & Young (EY) has announced the launch of an application for paying taxes on cryptocurrency transactions. Which has already been successfully integrated with such exchanges as Bitfinex, Coinbase, and Huobi Global.

Cryptocurrency exchange Bitcoinfrex.com interacts with the app in semi-automatic mode due to the features of integration with gambling projects.

The app is called EY CryptoPrep. It automatically collects data from all major crypto exchanges and services, applies the relevant tax regulations, and fills out a form

Marna Riker, Vice-Chairman of the American tax division of EY, noted that the need for the app is caused by the growing interest in cryptocurrencies.