Lukka Launches New Library To Tackle Bitcoin Controversies

Jyoti  |  Mar 27, 2020

The Cryptocurrency accounting company, Lukka Inc, launched a new library to help people, who have legal, accounting and tax questions related to cryptocurrency. The library has a collection of academic papers which focuses on these topics.

Each academic paper in the library would discuss the complexity related to law, accounting and taxation in cryptocurrencies. Like, it would explain, if the market price of cryptocurrency is fluctuating, how it can be reported. The Library would clarify most of the questions raised by the crypto-enthusiasts.

Lukka Formed Under Brand ‘Libra’

On March 27, 2020, the CEO of Lukka, Robert Materazzi said that the idea of developing a company came when he did not get an answer from google regarding capital gain tax. Later in the year 2014, Materazzi founded Lukka, but at that time it was formed under the brand, Libra.

According to the reports, in the year 2014, people were not very fascinated with the idea of paying taxes with cryptocurrencies.

Then in the year 2017, when the bull run hit the market, Bitcoin started shifting to the mainstream which was responsible for proliferation in crypto hedge funds. The report further stated that as the funds started proliferating the firm deviated its focus to institutions.

Library Has More Than 75 Topics

While talking about how Library would work, the executive of Lukka, Roger Brown said, “We don’t know of any resource that exists today for professionals that provides this level of knowledge from independent sources. While the IRS has continued to provide guidance on crypto assets, we’ve assembled comprehensive viewpoints on a number of issues that remain unsolved.” Brown mentioned that they have been working on this plan to make things easier and cheaper for the people.

The report suggested that the Lukka Library have a collection of more than 75 topics. More than two dozens of authors articles could be found in this library, and if the user desired to read some other author, the library is committed to helping them (users) with it.

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