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Crypto.com Launches Tool to Simplify Crypto Taxes
The tax calculator is launching in Canada, but will later see a wider rollout.
Updated Sep 14, 2021, 12:24 p.m. Published Mar 10, 2021, 4:21 p.m.
Crypto.com has launched a free service it says reduces the complexity of filing cryptocurrency tax returns.
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- In a blog post Wednesday, the Hong Kong-headquartered exchange said its new tool provides "an estimation of taxable gains/losses on relevant crypto transactions," which can be downloaded for tax filing.
- Users can import transaction records from supported exchanges and wallets via CSV files or using API synchronization where supported.
- Initially, the service is only available in Canada but will later be rolled out to other jurisdictions.
- When that happens, the tool will use country-specific tax calculation formulas.
- “We worked with professional tax advisers to ensure that the calculation logic is consistent with available guidance and laws for filing crypto taxes in Canada,” said Crypto.com.
Read more: Crypto.com Launches $200M Fund for Crypto Startups
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