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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.

By Tanzeel Akhtar

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.

Canada taxes Crypto.com CoinFlash

Tanzeel Akhtar

Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.