Crypto.com Launches Tool to Simplify Crypto Taxes

The tax calculator is launching in Canada, but will later see a wider rollout.

AccessTimeIconMar 10, 2021 at 4:21 p.m. UTC
Updated Sep 14, 2021 at 12:24 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.