Crypto Update: Key Events in the Cryptosphere Today

Crypto News– MetaMask has teamed up with CoinLedger to simplify tax reporting for its 30 million active users. In a separate incident, a developer found himself in a frenzy when he unintentionally burned over $10 million worth of Solana in a meme-related mishap, though he quickly recovered.

Crypto Update: Key Events in the Cryptosphere Today

On the other hand, a finance executive from Qatar has indicated to Cointelegraph that the Qatari sovereign wealth fund is unlikely to invest in Bitcoin (BTC) anytime soon, as BTC tickers show a downward trend at $67,342.

MetaMask joins forces with CoinLedger to streamline tax reporting processes

MetaMask users are set to experience a smoother tax filing process following the wallet’s recent partnership announcement with CoinLedger, a crypto tax reporting software.

As per the March 18 announcement, MetaMask users will now be able to seamlessly link their accounts with CoinLedger, facilitating the loading of transaction histories into the tax reporting software.

David Kemmerer, co-founder and CEO of CoinLedger, highlighted the convenience of this integration, stating, “Users can now directly sync their portfolio with CoinLedger and then generate tax forms automatically directly from MetaMask Portfolio.”

Recognized as one of the leading self-custody Web3 wallets, MetaMask boasts a user base of over 30 million monthly active users, according to developer Consensys.

Crypto tax regulations remain a prominent issue in the United States, with discussions underway in the Biden administration regarding a potential 30% excise tax on cryptocurrency mining.