Revolut taps Koinly for cryptocurrency tax reports

As cryptocurrencies progressively autumn nether the purview of planetary taxation authorities, integer slope Revolut has integrated an automated taxation reporting work for its users.

The integer fiscal services supplier has partnered with cryptocurrency taxation solution Koinly to let users to make cryptocurrency taxation reports to enactment retired gains and losses. Revolut users volition beryllium capable to synchronize their cryptocurrency transaction past with Koinly to expedite taxation calculations.

A discount connected the work is being offered to caller Koinly customers, with the onboarding process facilitated done the Revolut mobile app.

Revolut serves implicit 18 cardinal users crossed a fig of antithetic jurisdictions astir the satellite pursuing the acquisition of a banking licence successful Lithuania in precocious 2018. The integer slope has been offering cryptocurrency custody services since Dec. 2017.

The fintech steadfast has since expanded its services astir the satellite successful conjunction with regulatory compliance processes successful assorted countries. This includes receiving a greenlight from the United Kingdom’s Financial Conduct Authority (FCA) successful Sep. 2022 to connection cryptocurrency products and services successful the country.

Related: Study claims 99.5% of crypto investors did not wage taxes successful 2022

Koinly’s caput of taxation Danny Talwar antecedently highlighted the importance of cryptocurrency taxation services successful helping citizens successful the United States instrumentality vantage of ‘tax nonaccomplishment harvesting’.

Speaking to Cointelegraph ahead of the U.S. taxation deadline successful April 2023, Talwar said that taxpayers would bash good to instrumentality vantage of depressed cryptocurrency markets to trim their taxation liabilities.

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