CryptoTax launches API platform for exchanges and other cryptocurrency service providers
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CryptoTax launches API platform for exchanges and other cryptocurrency service providers

We are excited to announce the release of our professional CryptoTax API, which allows institutions to easily build their own approved white label tax solution. It is a major step in making crypto tax solutions easily accessible for exchanges, banks, funds and other institutions dealing with blockchain-based assets. Utilizing the API our clients get access to our unique tax engine with tax frameworks approved by a Big 4 accounting firm.

Expectations of crypto investors are changing rapidly, as the space matures and the competition becomes more intensive. They increasingly request the same level of convenience as they are used to from the traditional finance sector. Until now crypto investors are left alone with their obligation to file their taxes and the best they can get from a crypto exchange is a non-comprehensible CSV export. Given that CryptoTax sits at the epicenter of tax reporting for digital assets, we recognize the need to serve as a tax reporting platform for cryptocurrency service providers. With the launch of our CryptoTax API we make it easy for exchanges and other institutions to create tax reports for their customer and relief them from the reporting nightmare.

says Vladimir Tosovic, COO and Co-Founder of CryptoTax.

Features

In the first version our clients can use the API to generate approved tax reports for Germany, Switzerland and the US (coming soon). Furthermore, they can generate generic tax reports for any country in 30+ supported local currencies. We partner with a Big 4 accounting firm to continuously expand the number of jurisdictions, for which we can generate country-specific tax reports.

Our tax engine supports all transactions types in the crypto space and includes Airdrops, ICOs, Hard Forks, OTC Trades, Lending, Staking, Masternodes, Bounties, Swaps, Gifts and Margin Trading.

Whatever transaction is taking place our customers can easily create a tax report by simply calling our API.

You can find the full documentation on the API here.

Outlook

We aim to continuously grow and empower our tax engine and make it easy to access through the API. Besides expanding the geographical coverage of the country-specific tax reports we are working on solving additional tax reporting challenges of our institutional customers. One of them is the reporting of withholding taxes as well as FATCA and CRS, which looms over many crypto service providers.

Free Sandbox Access

Being the first crypto tax API provider we acknowledge the need to continuously develop and improve our service. Part of this effort is the invitation to access our sandbox tax API for free.

In order to get your sandbox API account please send a request to [email protected]

Resources

CryptoTax API documentation: https://api-docs.cryptotax.io

Demo CryptoTax API on Github: https://github.com/cryptotax-team/cryptotax-api-demo

Get free sandbox API access: [email protected]

We are looking forward to have your feedback on our API and hope to contribute to the developing crypto space by making tax reporting obligations easier for everyone!