Crypto.com, which serves the crypto app to more than 10 million customers around the world, has announced the launch of its free crypto tax reporting service in the UK, following the successful launch of the same in the US and Canada recently.
This service had already been launched in Australia earlier in the year and so far, it has been well received from the users. Crypto.com not only has its crypto app, but it also provides a crypto.com Visa card, an exchange as well as a DeFi wallet as well with an NFT marketplace also being recently launched by the company. It is trying to build a wholesome product to become a kind of super app for the crypto industry and in this, it must ensure that it satisfies all the regulations and laws in every region that it operates in.
The regulatory bodies in various countries have really started to tighten the noose around the crypto industry with some countries like China banning crypto outright while others like the US looking at the industry with a big magnifying glass. Under such circumstances, it becomes very important for the users, both traders and investors, to ensure that they pay whatever relevant tax is applicable in their jurisdiction, and for them, the Crypto.com Tax tool would be very useful.
“We have long been committed to offering the most compliant and easy-to-use crypto platform in the world,” said Kris Marszalek, co-founder, and CEO of Crypto.com. “After launching our tax reporting service in the US, Canada, and Australia, we’re excited to now offer it to all crypto users in the U.K. Look out for more countries to be added soon.”
The Crypto.com Tax application helps to generate accurate and well-organized reports which have details of all crypto-related transactions including the trading transactions, deposits, and withdrawals as well. Using this, the user would be able to file complicated tax returns correctly and also in a matter of few minutes. These reports and filings are customized to suit the UK filing requirements and also support more than 20 exchanges and wallets apart from supporting all of the Crypto.com products, like the app, the exchange, and the wallet as well. This greatly eases the pressure on the traders and investors by making tax filing easy so that they would be able to focus and dedicate their time to other matters.