Top cryptocurrency and payment platform, Crypto.com has announced a collaboration with three prominent tax providers CryptoTrader.Tax, CoinTracker, and Token Tax to enhance its crypto evangelism work.
As declared today, March 24, 2020, in a released, Crypto.com made the move to satisfy its teeming community who had been yearning for such services.
Due to the general acceptability and expansion of crypto, differing countries across the globe have begun enforcing payment of tax on virtual currencies compulsory, hence the partnership will introduce simplicity to help users of cryptocurrency.
For instance, the U.S. Internal Revenue Service allows individuals to claim cryptocurrency on tax filing documents, and such is also obtained in some other countries.
Crypto.com’s conglomerating with the three tax providers makes it easy for higher authorities and users, especially to report cryptocurrency holdings easily. Through the collaboration, importing of user’s crypto transaction history is made easy. This makes its generating of tax reports possible.
The report generated is designed to be compatible with popular tax filing software solutions.
The Chief Operating Officer at CoinTracker, Chandan Lodha, described Crypto.com as a top-class crypto payment platform in the ecosystem, adding that CoinTracker is fulfilled collaborating with the crypto platform.
“By extending CoinTracker’s integrations with Crypto.com, we are one step closer to making cryptocurrency taxes and portfolio tracking simple and accessible for everyone,” Chandan said.
“I think this partnership demonstrates Crypto.com’s leadership in this industry. The whole team is committed to making every aspect of cryptocurrency as easy as possible for their users, taxes included”, this according to David Kemmerer.
Buttressing the statement, David Kemmerer, who is the CEO of CryptoTrader.Tax, said that he and his team are glad to work in collaboration with the Crypto.com team as it had helped about bringing easy, automated cryptocurrency tax reporting experience to their users.