Crypto.com Launches Tool to Simplify Crypto Taxes
Crypto.com has launched a free service it says reduces the complexity of filing cryptocurrency tax returns.
- 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.
Recommended News
-
Elon Musk’s Bitcoin Marketing Coup
Here’s some free advice for the Honda Motor Company: Market your cars to the newly bitcoin rich. I’ve already got the ad copy for you. A true bitcoiner is building for the future and deferring gratification. She doesn’t blow her hard-earned savings on flashy toys. She prefers a solid, dependable family car. And a slogan…. Lambos are for losers. HODLers drive Hondas. Marc Hochstein, CoinDesk’s executive editor, owns some bitcoin, and if he were smarter he’d have bought more years ago. This article is excerpted from The Node, CoinDesk’s daily roundup of the…
-
Cryptocurrency Fund Flows Now at Lowest Since October 2020
Flows into digital asset investment products declined by roughly $79 million to $21 million during the seven-day period through March 26, the lowest since October, according to a new report by CoinShares, a digital asset investment firm. Slowing investor appetite for cryptocurrency funds reflects sideways price action in bitcoin (BTC). The cryptocurrency has traded between $50,000 and $60,000 over the past week. “Investor appetite for digital assets has waned in recent weeks as volatility remains high and the price trades sideways,” CoinShares wrote in the report. “We have recently witnessed a significant reduction…
-
BTDA has drawn a new generation of storage blueprints
With the rapid development of mobile Internet, 5G, Internet of Things, artificial intelligence and other technologies, data has exploded, and countless data are continuously generated, collected and processed everywhere. Accordingly, the markets of cloud storage, cloud computing and distributed edge computing are growing rapidly. Market reports from IDC, GrandView, Garnter and other institutions have clearly described this trend. On April 20, 2020, the National Development and Reform Commission held a press conference. The new infrastructure mainly includes three aspects, namely, information infrastructure, converged infrastructure and innovative infrastructure. Among them, data…
-
If you don’t want to miss out on Chia, then get on board with XC2 -and work to build consensus and value for Chia’s eco-development
2021was the year of the blockchain, with many coins surpassing theirall-time highs. In addition to the global economy and the impact ofthe epidemic, the bull market was fuelled thanks to the hot conceptsof Defi, NFT and Filecoin. Meanwhile Chia came out of nowhere andtook the blockchain scene by storm. Chiais a global open source decentralised network based on proof of timeand space, dedicated to creating a greener, more decentralised andsecure cryptocurrency. In Chia’s network there are no miners, nomining, but farms, farmers, seeding. By introducing a new consensusmechanism, Pos+Pot,…
-
Bitcoin Traders Brace for Record $6B in Options to Expire Friday
They call it “max pain” in the bitcoin options market: How to make one’s trading counterparty suffer the most. Although the largest cryptocurrency was changing hands Wednesday around $56,500, traders were handicapping the odds of a plunge to about $44,000 by Friday, when a record $6 billion of options contracts is set to expire. A drop to that price level would inflict “max pain” on buyers of options contracts, and it might be the most profitable price point for options sellers. It’s a remote risk, but not one to be discounted. The…
-
Dogecoin Is Not the Next Bitcoin – But Here Are the Similarities
To those of us who have been in the industry for a long time, Dogecoin has always been an oddity: A project that has exceptional approachability and appeal to new users while lacking most of the characteristics that make cryptocurrencies useful or valuable. Created in 2013 by Jackson Palmer and Billy Markus, the project was abandoned years ago by its founders and developers, if not its fans. Until recently, it was in such a weak state that it couldn’t even power its own blockchain infrastructure and in 2014 hitched its…
-
Bitcoin Price Falls $8K to 3-Week Low, Altcoins Crash
Bitcoin nosedived to three-week lows early Sunday, puncturing the frenzied speculative bubble built into several alternative cryptocurrencies (altcoins) in the wake of Coinbase’s recent debut on Nasdaq. The biggest cryptocurrency by market value dropped from roughly $60,000 to $52,148 in 15 minutes during the Asian session, liquidating almost $4 billion worth of positions in the derivatives market, according to Messari’s Ryan Watkins. While the exact reason for the sudden crash is unknown, the market mood may have soured due to rumors that the U.S. Treasury is planning to charge several financial institutions for money laundering using…
-
Jaringan utama koin SYW telah diluncurkan dan merealisasikan sirkulasi global
Recently, something great happened within blockchain network. SYW coin completed the deployment on the ETH public chain and successfully launched the mainnet. This means that SYW has successfully realized global circulation and can be transferred in any blockchain networks. From now on, global investors can freely purchase or sell SYW coins. As a blockchain 2.0 application network, ETH’s related ecology has attracted the attention of many blockchain users and cryptocurrency owners. Ethereum holds the vast majority ofr DeFi protocols and stable coins. Due to its characteristics of having stable…
-
CoinFans (bi-fans.com) Shenzhen Digital Mining Summit 2021 successfully concluded
On the afternoon of March 17, Beijing time, CoinFans (bi-fans.com) held the “2021 Digital Mining Summit” entitled “Win-win for the future” in Shenzhen. At the meeting, CoinFans CEO James Cao and many other executives attended the meeting. In addition, more than 50 industry elites, customers and strategic partners, including BTC.COM CEO Zhuang Zhong, Antpool co-founder Tian Xin, Shanghai Wayi co-founder Li Peicai, and Guihua Technology co-founder Xiao Guihua, gathered at the summit. At this 500-person summit, James Cao and other well-known companies delivered live speeches and shared the…
-
Duke University’s Early Coinbase Investment Could Now Be Worth $500M: Sources
The endowment fund of Duke University, the alma mater of Coinbase co-founder Fred Ehrsam, was one of the fortunate few to have made an early investment in the soon-to-list cryptocurrency exchange, CoinDesk has learned. Two people familiar with the matter said the $3.9 billion Duke Endowment was included early on in the cap table of Coinbase, which is expected to command a price tag of around $100 billion when its shares debut on Nasdaq. Those shares are now worth a small fortune, on the order of nine figures, the sources…
