Crypto exchange Unicoin announces cooperation with crypto tax partner Binocs

On Monday, India’s first cryptocurrency exchange Unicoin announced a partnership with Binocs, a cryptocurrency tax company, as a tax partner.

According to a press release sent by Unicoin, “The collaboration will enable Unocoin users and all Indian cryptocurrency enthusiasts to easily calculate their crypto taxes by embedding their accounts with Binocs.”

It will also help in getting accurate, efficient and compliant results on cryptocurrency transactions.

According to the Ministry of Finance, all cryptocurrencies, including NFTs, are considered virtual digital assets and are subject to income tax. There is a need for software that can speed up crypto taxation processes now that the government has announced crypto taxes.

The press release states that “the partnership simplifies accounting for cryptocurrency holders in multiple countries and expands the portfolio of ecosystem services.”

The collaboration between the two platforms will make it easier for digital asset owners to get their tax reports at the click of a button. These reports can be installed, shared with a tax professional or imported directly into well-known tax filing software, the press release said.

Sathvik Vishwanath, CEO and Co-Founder of Unocoin said, “Since the announcement of a uniform 30% tax on income from cryptocurrencies and other virtual digital assets, this is probably one of the most pressing issues for Indian crypto investors. In their efforts to efficiently calculate accurate taxes, our partnership should be of great help to them.”

“By partnering with Unocoin, India’s first cryptocurrency exchange, we are moving closer to making cryptocurrency taxes and portfolio tracking accessible to everyone. We are confident that this collaboration will improve the process for Unocoin customers,” said Tonmoy Shingal, Founder and CEO of Binocs.

Unocoin recently made the latest development that introduces a refreshed approach to the scope of the cryptocurrency in tier two and tier three regions and is now available in four new additional languages ​​including Kannada, Tamil, Telugu and Malayalam.

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