Koinly
Web3 / compliance
Koinly is a popular consumer-focused cryptocurrency tax software platform that automates the process of importing transactions, calculating tax liabilities, and generating regulatory tax reports for individual cryptocurrency investors and traders. The software connects to hundreds of cryptocurrency exchanges, wallets, and DeFi protocols to automatically pull transaction history, then calculates capital gains and losses using multiple accounting methods while tracking income from mining, staking, and airdrops. Koinly generates tax documents compatible with various jurisdictions including the United States, United Kingdom, Canada, and Australia, making it easier for retail investors to prepare accurate tax filings without manual data entry. Example: Koinly has processed millions of cryptocurrency transactions for retail users who trade on exchanges like Coinbase, Kraken, and Binance, providing them with automated tax reports and forms suitable for filing with tax authorities in their respective countries. Why it matters for compliance: Koinly reduces the complexity of cryptocurrency tax reporting for individual investors, helping them accurately calculate and document tax obligations to avoid penalties and maintain compliance with their local tax authorities.
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