Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Thomson Reuters Collaborates with Verady to Launch Crypto Tax Management Software

Thomson Reuters Collaborates with Verady to Launch Crypto Tax Management Software

Kelly Cromley by Kelly Cromley
Dec 24, 2019
in Market News, News
Reading Time: 2 mins read
0

Multinational media outlet Thomson Reuters has announced collaboration with Verady, a company that has expertise in record keeping and notification of cryptos and blockchain assets. The two firms will partner on introducing new crypto tax software to market.

Within short span of time, Thomson Reuters GoSystem Tax RS product will comprise of a “Virtual Currency Organizer” for individuals submitting details regarding crypto transactions on tax form 1040.

As per Thomson Reuters, the tax solution will cater as a one stop shop of data input and assessment for crypto currency transactions including forks, exchanges, purchases and payment for facilities offered.

This will offer accounting professionals with the right info required while assisting customers standardize cryptocurrency dealings.

Furthermore, customers of Varady’s Ledgible blockchain accounting software will not face any difficulty in preparing reports that are handy for Thomson Reuters’ GoSystem Tax and Ultra Tax software.

Kell Canty, CEO of Verady, told Cointelegraph:

“Once Ledgible users have integrated their wallet and exchange activity, they’ll be able to notify their accounting professionals that the data is ready to go. Tax preparers can then bring that data into the GoSystem Tax product, placing it in the virtual currency organizer.”

As per Canty, Thomson Reuters intends to introduce the Virtual Currency Organizer sometime in 2019. The cryptocurrency tax software will function as Thomson Reuters most recent crypto oriented platform.

The company already offers a price data feed for cryptocurrencies, referred to as “Cryptocurrency Real Time Rates.” In June 2018, Thomas Reuters also unveiled a new edition of its MarketPsych Indices (TRMI) that included market sentiment info for the top 100 cryptos.

Even though the Virtual Currency Organizer will be invaluable for investors with a crypto portfolio to manage their tax obligations in 2019, the difficulty lies in acquiring crypto data due to their decentralized structure. Canty elaborated that a key basis for Thomson Reuters to establish collaboration with Verady was to guarantee that dependable info is obtained.

“Thomson Reuters formed this partnership with us partly due to our impressive background in the field of tracking, reporting, and accounting of cryptocurrency and blockchain assets. This is a huge endorsement for what we are doing to provide integrated reporting of cryptocurrency data across different data sources.”

Canty highlighted that Verady has been assisting financial firms and other organizations document their blockchain assets as early as 2014. He also stated that the company assisted with Bitpay’s first audit in 2014. As US regulatory agencies are closely monitoring cryptos and tax conformity, Canty stated that Verady will explore integration with other systems in the months ahead.

“We are currently focused on making the collaboration with Thomson Reuters the best in the industry. As other opportunities come about, we will evaluate them on a case-by-case basis.”

Canty also stated that an investor of Verady, Shanghai-based Fenbushi Capital, has conveyed interest to utilize Ledgible’s software in the Asian Market. This is on expected lines as countries across the world are heeding to the US Internal Revenue Service (IRS) outlook regarding cryptocurrency tax conformity.

For example, IRS, for the first time, will openly demand for taxpayers to provide documents regarding their cryptocurrency activity, through a question at the top most part of its latest IRS Form 1040 Schedule 1.

Canty stated that “We think there are lots of opportunities across the entire industry and globally for the functionality that Verady offers for cryptocurrency taxpayers.”

Previous Post

EOSIO Tables New Proposal to Prevent Network Congestion & Purchase of Blockchain Resources

Next Post

Deputy Director of PBoC – Digital Yuan Will Not Be Similar To Bitcoin or Stablecoins

Related Posts

baltimore-blockchain-adoption

Baltimore Puts Vacant Property Titles on Blockchain

by Kelly Cromley
Jun 25, 2025
0

Baltimore officials are turning to blockchain in an effort to simplify the way real-estate titles are transferred, particularly for the...

zigchain-unveils-mainnet-beta

ZIGChain Debuts Shariah-Compliant Blockchain for Tokenizing Real-World Assets

by Kelly Cromley
Jun 25, 2025
0

A Karachi-based team led by blockchain entrepreneur Abdul Rafay Gadit has unveiled ZIGChain, a base-level network designed from the ground...

Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion

Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion

by Mostafijur Rahman
Jun 24, 2025
0

In a bold move that signals the next phase of corporate crypto adoption, France-based semiconductor company Sequans Communications has announced...

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

by Kelly Cromley
Jun 24, 2025
0

Mantra, a Layer-1 blockchain focused on real-world assets (RWA), has confirmed that Lympid, a platform specializing in the issuance and...

guinevere-capital-partners-with-polemos

Guinevere Capital Partners with Polemos to Boost Web3 Gaming

by Kelly Cromley
Jun 24, 2025
0

Guinevere Capital, a well-established investment firm known for its focus on esports and gaming ventures, has confirmed a strategic partnership...

D'CENT Wallet

D’CENT Expands Web3 Reach with Taiko Partnership

by Kelly Cromley
Jun 24, 2025
0

D’CENT, a pioneer in biometric hardware wallets, has introduced Ethereum Layer-2 solution Taiko as the third featured partner in its...

Next Post
Deputy Director of PBoC – Digital Yuan Will Not Be Similar To Bitcoin or Stablecoins

Deputy Director of PBoC – Digital Yuan Will Not Be Similar To Bitcoin or Stablecoins

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

baltimore-blockchain-adoption
Market News

Baltimore Puts Vacant Property Titles on Blockchain

by Kelly Cromley
Jun 25, 2025
zigchain-unveils-mainnet-beta
Market News

ZIGChain Debuts Shariah-Compliant Blockchain for Tokenizing Real-World Assets

by Kelly Cromley
Jun 25, 2025
Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion
Binance Coin News

Semiconductor Firm Sequans to Raise $384M for Bitcoin Treasury Expansion

by Mostafijur Rahman
Jun 24, 2025
Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets
Market News

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

by Kelly Cromley
Jun 24, 2025
guinevere-capital-partners-with-polemos
Market News

Guinevere Capital Partners with Polemos to Boost Web3 Gaming

by Kelly Cromley
Jun 24, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree