Know your business
BUREAU VERIFICATION OF SHAREHOLDERS
Verify shareholders and director information
When onboarding legal entities, you want to be able to corroborate the information provided by owners for KYC with third parties.
Our access to data sources such as Governments and Credit Bureaus worldwide allows you to verify information such as SSN, Name, and Date of Birth with trusted third parties.
For federal tax purposes, digital assets are treated as property. General tax principles applicable to property transactions apply to transactions using digital assets. You may be required to report your digital asset activity on your tax return.
Definition of Digital Assets
Digital assets are broadly defined as any digital representation of value which is recorded on a cryptographically secured distributed ledger or any similar technology as specified by the Secretary.
Digital assets include (but are not limited to):
- Convertible virtual currency and cryptocurrency
- Non-fungible tokens (NFTs)
Digital assets are not real currency (also known as “fiat”) because they are not the coin and paper money of the United States or a foreign country and are not digitally issued by a government’s central bank.
A digital asset that has an equivalent value in real currency, or acts as a substitute for real currency, has been referred to as convertible virtual currency.
A cryptocurrency is an example of a convertible virtual currency that can be used as payment for goods and services, digitally traded between users, and exchanged for or into real currencies or digital assets.