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KoinX, a cryptocurrency taxation platform, has introduced its acquisition of Crypto Kanoon, a platform engaged in cryptocurrency regulation data constructing. By this acquisition, KoinX goals to develop consciousness on cryptocurrency taxation in addition to convey insights to Indian traders and potential clients by Crypto Kanoon’s claimed greater than 120,000 social media viewers.
In accordance with Punit Agarwal, founder and CEO, KoinX, the acquisition goals to assist the platform get entry to their neighborhood contributors who’re additionally their potential clients and are searching for authorized and cryptocurrency tax queries to be solved, as India is predicted to maneuver in the direction of a regulated surroundings for digital belongings.
“We sit up for see Crypto Kanoon within the arms of the KoinX group. Our aim by Crypto Kanoon has been to elucidate regulatory developments in a straightforward and easy method. We hope to witness its subsequent section by the KoinX acquisition which is predicted to convey worth to the cryptocurrency neighborhood in India,” Kashif Raza, co-founder, Crypto Kanoon, stated.
As acknowledged by KoinX, it’s a cryptocurrency taxation platform, launched in 2022 by Punit Agarwal that lets cryptocurrency traders automate their cryptocurrency taxations by integrating their portfolio and transactions on a single platform with centralised dashboards. The platform claims to be presently built-in with six cryptocurrency exchanges utilized by Indians which permits cryptocurrency traders to combine them and calculate the taxes in a single go.
Going by Crypto Kanoon’s web site, which was based by people comparable to Kashif Raza and Mohammad Danish in 2018, it’s a platform within the cryptocurrency neighborhood that performed a task in educating folks about cryptocurrencies, blockchain, in addition to cryptocurrency taxation. Since its inception, it has aimed to develop as a cryptocurrency information and evaluation platform on Twitter and YouTube, with an viewers that features C-suite and trade consultants from cryptocurrency exchanges comparable to Binance and BitFinex.
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