Lykke, a Swiss blockchain company founded by Richard Olsen, the former CEO of OANDA, has partnered with CryptoTax to provide its customers with country-specific tax reports.
CryptoTax, a brand of Munich-based 21 Consulting GmbH, offers tax reporting solutions and other regulatory declaration services for customers of cryptocurrency exchanges and users of blockchain assets to help them be compliant with the law of their state of residence. CryptoTax has a strategic alliance with KPMG to get access to its worldwide network of tax and legal experts and to ensure constant coverage of the current of legislation in each country.
“This is one more step along the way toward making blockchain-based trading a viable alternative to traditional markets,” says Olsen. “It is essential for us to be able to offer a wide range of reporting and declaration services. Transparency is one of our foundational values: trust among our user base, and openness to regulatory authorities. CryptoTax’s strategic thinking demonstrates their shared commitment to these goals.”
“Because of our experience in the conventional financial services industry we know that tax reports are already market standard and will also help companies operating in the field of cryptocurrencies to reach a broader market acceptance while differentiating from other providers” states Klaus Himmer, CEO of 21 Consulting. “We are very pleased Lykke chose us to support them to manage the increasing demand of country-specific tax reports. We are sure that the cooperation will help both parties to foster their strong market position and help them to drive the market acceptance of blockchain based financial instruments”, he added.