CoinTracker Makes India Entry to Offer Compliance Products

Leading cryptocurrency tax compliance and portfolio tracking firm, CoinTracker announced its India entry with an official product launch. CoinTracker intends to not only engage with crypto users in India but also hire and grow their team in the country. The firm also aims to collaborate with partners and the community to boost crypto adoption and usage in India and across the globe. The crypto tax compliance firm has partnered with some of the biggest players in the industry including OpenSea and Phantom and they are also planning to partner with Indian crypto players, the company said. The company’s entry comes at a time when the country’s crypto industry is grappling with a 30 percent tax on virtual assets with an additional 1 percent TDS, starting July 1. India’s Growing Crypto Market Earlier this year, CoinTracker raised $100 million at a valuation of $1.3 billion. The funding round was led by venture capital firm Accel with investors such as Initialized Capital, General Catalyst, Y Combinator Accuity, and Seven Seven Six, the venture firm of Reddit co-founder Alexis Ohanian, also participating. According to a Chainalysis report published last year, India emerged globally as the number two country in crypto adoption. The country’s crypto market grew exponentially in 2021, recording almost 641% growth, per the report from October.The post CoinTracker Makes India Entry to Offer Compliance Products appeared first on Cryptoknowmics-Crypto News and Media Platform.