Tax authorities require owners of ada to report on many aspects of their cryptocurrency holdings and activity. For example, countries with capital gains taxes will require owners to declare the appreciation of their ada. Also staking and delegation will generate income in ada over many transactions. All of those income transactions have to be declared. In countries with wealth taxes, people will have to report on the value of their holdings as of a certain date. Without good reporting capabilities, it will be difficult for owners to meet their legal reporting obligations and therefore make it difficult to use Daedalus wallet at least when it comes to tax compliance.
It would be an advantage for Daedalus wallet to make it easy for users to comply with their local tax authorities. Although there are many conceivable ways to do this, maybe the best way is to make a robust reporting capability available in Daedalus. Using this, users could download or copy all data from Daedalus so that they can manipulate it to meet their needs for tax compliance.
See Also Print/Export transaction history
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