High-profile crypto hardware wallet provider Ledger is reportedly going to finalize the integration of a new crypto tax-related product, in a bid to assist tax tracking for crypto investors. 

Specifically, Ledger has reportedly forged an alliance with crypto tax software ZenLedger to finalize the integration of its crypto tax reporting solution into Ledger’s interface application, Ledger Live. 

The new tax functionality will reportedly be rolled out instantly on Ledger Live and is visible in the Discover section of its catalog.

The software tool reportedly supports the automated aggregation regarding the history of every transaction finalized via Ledger Live and tracks losses and earnings.

“Multiple services are available through partners in Ledger Live to buy, sell, swap and stake your crypto, but this is the first time a tax-related service is integrated.” Jean-François Rochet, Ledger’s vice president of international development, additionally remarked regarding the development. 

If tax reporting software such as ZenLedger does not exist, users that select self-custody cryptocurrencies like Bitcoin (BTC) would be required to calculate their losses and earnings in a manual manner. 

The integration will primarily concentrate on the United States’ tax standard, with the goal of dealing with particularly complex tax filing duties of U.S. customers. The software tool will still be accessible to Ledger Live customers outside of the United States. 

“Over 3.5 million people use Ledger hardware wallets worldwide, approximately 20% of digital assets are stored in Ledger devices, and we continue to see an increase in Ledger products used in the United States” Rochet continued. 

He additionally mentioned that Ledger Live has already completed the integration of numerous regulated financial services platforms, to abide by Know Your Customer and Anti-Money Laundering procedures, including services like MoonPay and Wyre.