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Vancouver-based iComply forms a strategic partnership with Cointaxes - Canadians Can Now Calculate Their Cryptocurrency Taxes
Wednesday, May 2, 2018Company Profile | Follow Company
Vancouver, BC, May 2, 2018--(T-Net)--iComply Investor Services (iComply), a RegTech software company that has created the world's first global regulatory automation service for blockchain securities, is today announcing that it has formed a strategic partnership with Cointaxes, whose platform opens up for Canadian taxpayers this week.
For those who are wondering, yes you need to pay taxes on your crypto, and no, your blockchain-based transactions not completely anonymous, so you'll want to be on top of your taxes sooner rather than later.
The Cointaxes and iComply integration enables taxpayers to securely verify their identity and claim gains and losses across different wallets, automatically calculating liabilities and generating all required tax forms.
"It is important for people be be aware that if they have made any trades from crypto to crypto or crypto to fiat - they owe taxes on those transactions." said Chris Kovalik, CEO of Cointaxes. "Partnering with iComply made complete sense, we share a common mission to build the infrastructure for compliance in a blockchain-based future. Cointaxes handles the tax and consumer compliance angle, and iComply is focused on KYC and transaction monitoring for tokenized securities."
iComply's product, iComplyID is a portable KYC ("know your customer") solution already in use by cryptocurrency exchanges, fintech platforms, and initial coin offerings. Referred to as "Worldcheck for decentralized finance" the product is well suited to applications beyond blockchain securities such as traditional financial institutions, government, and healthcare applications.
Matthew Unger, CEO and Founder of iComply
"The integration of Cointaxes and iComply means that all transactional information for decentralized securities can be reconciled for tax purposes. Think of it like Turbotaxes for the crypto investor, the tool fits perfectly into our offering of highly secure and easy to use infrastructure for the digital economy." said Matthew Unger, CEO and Founder of iComply. "One of iComply's goals is to make tokenized assets eligible for RRSP and 401k portfolios, and the integration of this personal tax and accounting piece will bring us one step closer to that goal." said Matthew Unger, CEO and Founder of iComply.
About iComply
iComply Investor Services Inc. (iComply) is a regulatory technology company focused on digital identification, legal workflows and compliance automation for initial issuance and secondary trading of tokenized assets (security and utility). The technology also interacts beyond blockchain and can be used by traditional and decentralized companies alike.
iComply currently has two major components: Prefacto Compliance and iComplyID. Prefacto is the first solution to unlock compliant secondary trading for decentralized assets and is technology agnostic—meaning that new blockchains, mesh networks, or centralized trading systems can be integrated securely. iComplyID covers identity verification and investor privacy. An integrated ecosystem, the software streamlines legal and accounting processes and provides automated checks and balances which occur before a transaction is posted, enabling an efficient workflow between investors, regulators, securities issuers, and capital markets service providers. Learn more: iComplyICO.com
About Cointaxes
Cointaxes makes it possible to prepare tax-ready cryptocurrency trading records. Cointaxes' tax engine and ledger technology was built to automate tax reporting for millions of cryptocurrency users and to help them make smarter, tax-optimized decisions every day. Cointaxes' primary product is high quality cryptocurrency tax preparation and optimization software for individuals, businesses and tax professionals. It guides consumers step-by-step through the process, creating confidence and certainty along the way. Learn More: Cointaxes.com
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iComplyICO (iComply Investor Services Inc.)
Vancouver (Other Tech Sectors)
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