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Ledgible's Platform Assists Enterprises in Navigating Complex Regulatory Requirements

The Ledgible platform excels in cost-basis calculation, data normalization, and reconciliation with legacy systems.

The platform excels in cost-basis calculation, data normalization, and reconciliation with legacy systems.
Credit: Foretoken Media 2024

In an era of evolving federal regulations for digital assets, Ledgible's platform emerges as a critical solution for enterprises and institutions. The platform is designed to help businesses navigate complex regulatory requirements, ensuring compliance and streamlining tax reporting.

Ledgible Ensures Compliance with New Digital Asset Regulations

“As federal regulations around digital assets, like IRS Form 1099-DA, mandate companies begin reporting out on their digital asset activities including tokenized real world assets, the Ledgible platform is uniquely positioned to ensure compliance,” said Kell Canty, CEO of Ledgible. This statement underscores the platform's readiness to assist businesses in meeting new regulatory standards.

Timely Launch Amid Crypto Industry's Shift Towards Tokenized Real-World Assets

The launch of Ledgible's platform is particularly timely, given the crypto industry's trajectory towards tokenized real-world assets. As enterprises increasingly engage with tokenized assets, the need for robust compliance solutions becomes more pronounced.

Franklin Templeton Partners with Ledgible for US-Registered Fund

Notably, Franklin Templeton, one of the world's largest investment managers, recently launched the first US-registered fund to use a public blockchain for processing transactions and recording share ownership. The firm partnered with Ledgible, highlighting the necessity for advanced tax reporting solutions in the digital asset space.

“This is an exciting step in our continued journey to make the digital assets ecosystem more accessible to both traditional and blockchain-native investors. We are also building the framework for BENJI tokens to be interoperable with additional tokens in the not-too-distant future,” said Roger Bayston, Head of Digital Assets at Franklin Templeton.

Franklin Templeton's collaboration with Ledgible showcases the platform's capability to integrate multiple blockchains and on-chain data. This integration enables precise tax obligation calculations and advanced financial reporting.


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