Avinash Shekhar, former CEO of crypto exchange ZebPay, announced the launch of his Web3 startup ‘TaxNodes’ on Thursday (January 12) to transform the way crypto profitability, taxation, and reporting is handled for retail investors and exchanges.
TaxNodes aims to make tax computation and individual tax compliance easier. Furthermore, it aims to assist cryptocurrency exchanges in strengthening their internal controls and automating reconciliation and accounting. The startup claims that by bringing all of their crypto transactions from multiple exchanges, P2P, private wallets, and different blockchains onto the same platform, retail investors will be able to automate crypto taxation. TaxNodes will count real-time profit or loss computation, portfolio tracking, dashboards, and analysis to ensure the completeness and integrity of data.
