Binance has launched a new tool called Binance Tax to simplify the process of filing crypto taxes, which can be confusing and time-consuming for many users. The tool supports popular cost basis methodologies and provides precise information on transactions, including spot trades, crypto donations, and blockchain fork prizes. However, the tool currently only provides country-specific tax standards for France and Canada, and users are advised to consult with a tax expert to determine if country-specific rules apply. Users can download reports, edit transactions, and add transactions conducted outside of Binance to Binance Tax.