Gemini Exchange Adds Automated Customer Tax Reporting

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US-based crypto exchange Gemini wants to help its users comply with the tax requirements in a convenient manner. The company hired Sovos to modernize its tax information reporting. The Solution Will Automate Gemini’s Tax Filings The exchange platform managed by Taylor and Cameron Winklevoss will use Sovos’ technology to automate its 1099 forms and filings. The solution is expected to reduce potential human errors and ensure automatic regulatory updates. The latter is quite important in an industry that is still at its nascent stage. Gemini picked Sovos for its expertise in tax reporting. The company is currently the largest private filer to the Internal Revenue Service (IRS) of 10-series forms. Besides this, Sovos has experience in handling tax issue in alternative currency markets. Joshua Rawlins, managing director at Gemini’s financial operations, commented: With Sovos, we can react quickly to shifting cryptocurrency tax reporting regulations, helping to ensure our customers are…

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