Coinbase unveils 'revised' Changes and Tax Tools

This week the popular cryptocurrency service Coinbase revealed a variety of announcements concerning a number of aspects of the company . The Exchange Data is Segregated Witness (followed) unroll , is planning to switch Paypal , new tax instruments , and hiring 500 customer service agents .

Segwit and Taxes

Coinbase representatives Tina Bhatnagar and Zach Abrams released a number of changes to the company, which will be applied this year to the San Francisco-based company . Abrams Data First Aid from the company for Segwit will be completed this week . According to the product manager , Segwit compatible BTC sends and receives for all customers will soon be available .

"We continue to invest in our bitcoin infrastructure , and we will work on implementing additional bitcoin scalability improvements such as transaction grouping and improved UTXO management , "Explains Abrams .

Following the quick update on the Segwit rollout , Abrams reveals that Coinbase is releasing a number of tax reporting tools as well . Coinbase plans to make the tools that launch this week and that are part of "paying taxes as simple as possible."

"To do this , we will provide a 'Detailed Transactions Report' that will accompany our profits / losses report , "Says Coinbase .

As many customers have noted , Our profit / loss report is only accurate if you have only purchased or sold digital assets on Coinbase - So this extra , detailed report is aimed at helping people who have sent / received digital assets or purchased / sold at other trade fairs .