Binance Upgrade Will Almost Certainly Increase Crypto Investments by Institutional and VIP Investors

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Last Updated on August 9, 2022 by Bitfinsider

Binance, the world’s largest cryptocurrency exchange, announced on Tuesday that it has upgraded the account statement function feature to support institutional and VIP investors’ tax, audit, and compliance needs. Simplifying these complex obligations may encourage institutional and VIP investors to invest in cryptocurrency.

On August 9, Binance announced an upgrade to the account statement function to simplify the tax, audit, and compliance needs of institutional and VIP investors in an official blog post. Clients will also be able to view and download historical data for their assets from the website. The mobile version does not have these features.

It will assist institutional and VIP investors in better managing their tax and audit reporting responsibilities. Account balance management is critical for accounting and reporting to third parties such as auditors. Binance’s institutional-quality data and reporting services are globally certified and accepted.

After the upgrade, the account statement function now supports “Earn Wallet snapshot,” “File sharing and PDF export,” and “Password protection.”

Clients will receive daily updates on their asset holdings in spot, margin, futures, and other wallets. The snapshot will also show the Earn Wallet’s accumulated interest. Clients will be able to choose between displaying account balances in BTC, BUSD, or USDT. The account statement also includes BTC, BUSD, and USDT exchange rates.

Clients can also download and export account statements in a variety of formats, as well as share the statement with up to three recipients.

Before exporting account statements, Binance will require clients to create a one-time password. Binance prioritizes privacy, security, and regulatory compliance.

The new account statement function features will almost certainly improve institutional and VIP investors’ experience. As a result, more crypto investments are possible.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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