BENGALURU: Amid regulatory uncertainties, crypto tax compliance and portfolio monitoring firm CoinTracker on Wednesday introduced its foray into the Indian market.
Its launch comes at a time when the crypto business is fighting 30% tax and 1% TDS imposed by the federal government. The corporate, aside from partaking with crypto customers, may also concentrate on hiring and rising group in India.
CoinTracker not too long ago raised $100 million. It’s backed by Accel, Basic Catalyst and Y Combinator, amongst different traders. It’s also the crypto tax accomplice for a lot of exchanges corresponding to Coinbase, OpenSea and Phantom.
“It may be difficult for folk to navigate the complexity of shopping for, holding and transacting with cryptocurrency and practically unattainable to adjust to taxes with out the fitting instrument. We’re excited to ship our providing in India,” stated Jon Lerner, CEO of CoinTracker.