Leading crypto tax platform CoinLedger expands into Canada

CoinLedger, a major tax reporting platform for DeFi, crypto, and NFT users, has officially expanded into Canada. Crypto users and investors in Canada can use it to automate all of their income tax reporting, capital gains, and losses under Canadian tax laws, Coin Journal learned from a press release. 

CEO and co-founder of CoinLedger David Kemmeer said:

We’re delighted to be expanding our full tax reporting tool suite to help Canadian cryptocurrency investors stay compliant with local laws. We are witnessing huge demand not just here in the US but from crypto consumers worldwide who need help with tax reporting. With this rollout, crypto tax compliance for the average Canadian will be as simple as a few button clicks.

No more tax reporting nightmares 

Due to crypto and digital assets’ interoperable nature with transfers across different exchanges, wallets, and blockchains, people can face tax reporting nightmares.

CoinLedger solves these issues through direct integration with a myriad of cryptocurrency platforms to allow all users to track their crypto and other digital asset transactions throughout the ecosystem.

Automatically import transactions

Canadian users can import transactions across all crypto platforms. This will happen automatically when they connect their wallets to CoinLedger. They can click a button to generate the required tax forms from here.

Increasing regulatory restrictions 

Revenue agencies worldwide are ramping up efforts to enforce digital asset tax compliance, and the Canadian Revenue Agency is no exception. 

These efforts include new intel units, more tax audits, and compliance requirements for crypto exchanges. With the growth of the digital asset industry, these initiatives are expected to become more prominent in the years to come.