KoinX tax calculation platform integrates XDC Network, an Ethereum scaling solution
Apr 28, 2023
Mumbai (Maharashtra) [India], April 28 (ANI/PRNewswire): KoinX, a leading provider of tax calculation software, is excited to announce the integration of XDC Network. XDC Network is one of the fastest-growing blockchain ecosystems around the globe with its Ethereum scalable solutions and encouraging developers to build real-world Dapps, tokenize assets on the most sustainable and energy-efficient networks.
Governments worldwide are working to develop new tax regimes for the decentralized ecosystem, but regulations differ from country to country. Doug Brooks, Senior Advisor at XDC Network, says, "It is important to note that the tax treatment of digital tokens can be complex and may depend on a variety of factors, including the purpose of the token, length of time it is held, and specific tax laws in the jurisdiction where the individual or entity is located. It is advisable to consult with a tax professional knowledgeable about the taxation of digital tokens in your jurisdiction."
KoinX's sophisticated crypto-tax reporting feature simplifies the often-complex process of calculating and generating crypto-tax reports. With KoinX's state-of-the-art portfolio tracking capabilities, XDC users can effortlessly monitor their investments in real-time, gain comprehensive portfolio insights, and make informed investment decisions.
"We are excited to integrate XDC Network on KoinX, which empowers the XDC users with cutting-edge portfolio insights and crypto tax reporting solutions," said Punit Agarwal, Founder and CEO of KoinX. "Our deep integration with XDCNetwork provides a seamless and user-friendly experience for XDC users to track their investments and generate detailed, accurate crypto tax reports. We believe this addition will greatly benefit the web3 community and contribute to the mainstream adoption of both blockchain and cryptocurrencies."
KoinX is an automated crypto-taxation platform launched in 2022 by Punit Agarwal. The platform allows cryptocurrency investors to automate tax calculations by integrating their portfolios and transactions onto a single dashboard. KoinX is a valuable tool for simplifying crypto taxation. It is currently integrated with the largest exchanges and blockchains, allowing crypto investors to combine and calculate their taxes easily.
XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible, Layer 1 blockchain that has been operationally successful since 2019. The network obtains consensus via XDPoS technique that allows 2-second transaction times, near-zero gas expenses (USD 0.0001), over 2000 TPS, and interoperability with ISO 20022 financial messaging standards.
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