For many countries, the tax season is just around the corner, which means that companies in the password industry will need to be fully prepared to help their users comply with local policies and regulations.

Binance, a password trading center, said on Feb. 6 that it will launch a special tool for tax filing, which can help users track their password transactions for tax filing.

According to the announcement, Binance Tax allows users to download tax introduction reports free of charge, including all income statements that occur in Binance accounts throughout the year. This includes spot markets, password donations and bifurcation rewards for distributed ledgers.

The company said it was actually a response to more and more users knowing about his tax time.

Binance Tax is currently a demonstration site in Italy and Canada and will expand to other international markets in the Binance ecosystem later this year. At this stage, Binance Tax is only targeting the content of information held on Binance software, but the company says it is looking to expand in the near future to integrate with other websites in the industry.

A month ago, Binance announced that it would join a research society to ease compliance with global bans.

Over the past year, regulators around the world have tightened their grip on the password industry, especially in the wake of the FTX crisis that rocked the industry.

Thailand, the United States Securities and Exchange Commission (Securities And Exchange Commission) recently announced that the plan to tighten password industry rules, the key is to protect investors. Regulators in South Korea and the Netherlands have focused on trading centres to investigate individual behaviour that does not conform to local standardization.

U. S. regulators have also been concerned about the data encryption industry. Kraken, the cryptocurrency exchange, was forced to reach an agreement on illegal operations with the offices of other national property manipulation companies of the Ministry of Finance.

In December 2022, the Securities and Exchange Commission called on companies to disclose password failures and leverage. In addition, a chairman of the US House of Representatives committee again issued a law on password innovation, which allows companies and federal government organizations to apply for "enforceable compliance agreements."