Hashed (CEO Kim Seo-joon), an investment company specializing in blockchain, announced on the 23rd that it has made seed investments in Double X Soft (CEO Shin Dae-chul), an operator of Cryptotax, a virtual asset tax service.
Cryptotax is a service that provides accurate and easy virtual asset monitoring, transaction evidence, and tax calculation and reporting of virtual assets to virtual asset traders. Through linkage with various exchanges at home and abroad, users will be able to stably monitor virtual asset transaction details and asset status, and provide more reasonable tax payment scenarios based on this.
Cryptotax will be able to provide more complete services through investment by Hashed, which has abundant knowledge and experience in blockchain and virtual assets. In addition, Cryptotax has collaborated with tax accountants and lawyers specializing in virtual assets of Seum (CEO Jeong Ho-seok), a law firm with a lot of experience in the blockchain field, and plans to provide services with high levels of expertise, reliability and stability.
CryptoTax is currently offering closed beta services to some users and will be officially released in the second half of this year.
In addition, it has already secured extensive virtual asset transaction data worldwide, and based on this, it is researching and developing a tax algorithm that can handle up to 0.001% of the world’s transaction types.
CEO Kim Seo-joon said, “Now cryptocurrency investment is not made just by buying and selling, and if you participate in staking or decentralized finance, the method of calculating investment returns becomes very complicated.” On the other hand, CryptoTax said, “As a solution that produces optimal taxation results in a user-friendly way, it will become an essential service in the era of cryptocurrency taxation.”
Shin Dae-chul, CEO of CryptoTax, said, “Although virtual assets have emerged as a major investment destination for many people, there is no service for calculating tax amounts or filing taxes yet. If taxpayers do not properly fulfill their tax reporting obligations, they will have disadvantages such as additional taxes, so Cryptotax will provide convenient virtual asset monitoring and the best tax scenario for the National Tax Service along with hashd, virtual asset tax accountants and lawyers.
Seum Kim Ji-ho, a tax accountant at a law firm, said, “In order to proceed with financial transactions with profits from virtual asset transactions, evidence of the source of the funds is needed. CryptoTax will provide integrated evidence of distributed transaction details to efficiently support financial transactions of virtual asset investors.
