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Leading global cryptocurrency tax reporting platform CoinLedger has announced a new collaboration with top Web3 self-custody wallet provider MetaMask. Through, MetaMask Portfolio, users may now enable automatic tax reporting by syncing their MetaMask transaction history with CoinLedger.
According to CoinLedger CEO and Co-Founder David Kemmerer, “We are extremely excited to be bringing CoinLedger’s advanced tax reporting capabilities to the MetaMask customer base.”
He added, “By reducing the friction associated with calculating and reporting taxes, we’re making the cryptocurrency ecosystem more accessible to everyone.”
Kai Huang, Senior Product Manager at Consensys, continued, “Integrating top-rated providers to streamline tax reporting is an added benefit for MetaMask users, in a way that’s secure, convenient, and easy to use.”
Users may encounter difficulties since cryptocurrencies and digital assets are interoperable and can be transferred into and out of other blockchain ecosystems. This is particularly problematic when it comes to documenting gains and losses, which is required for tax reporting.
To solve this, CoinLedger integrates with hundreds of top wallets, exchanges, and blockchains, enabling any cryptocurrency user to follow the history of their transactions involving digital assets throughout the crypto ecosystem.
With a single dashboard, MetaMask Portfolio customers may monitor their cryptocurrency holdings. Now that CoinLedger has integrated, customers can instantly sync their transaction history with CoinLedger’s tax reporting software.
A user’s income, losses, and capital gains related to their Bitcoin activity can now be automatically calculated from their MetaMask wallet thanks to this connection.
Also Read: MetaMask & Mastercard Test On-Chain Payment Card via Baanx
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