CoinLedger and MetaMask have partnered to simplify cryptocurrency tax reporting for MetaMask Portfolio users by enabling automatic syncing of transaction history and calculation of gains, losses, and income. This collaboration will enable users of MetaMask Portfolio to seamlessly sync their transaction history with CoinLedger, facilitating automatic tax reporting.
The integration addresses the challenges faced by cryptocurrency users in tracking gains and losses across various blockchain ecosystems, which is crucial for accurate tax reporting. By connecting with hundreds of leading exchanges, wallets, and blockchains, CoinLedger allows users to monitor their digital-asset transactions across the entire crypto-economy. MetaMask Portfolio, a feature that enables users to track their crypto holdings within a single dashboard, will now offer the option to sync transaction history with CoinLedger’s tax reporting software with a single click.
This integration automates the complex process of calculating capital gains, losses, and income associated with a user’s cryptocurrency activity from their MetaMask wallet. David Kemmerer, CEO and Co-Founder of CoinLedger, expressed enthusiasm about bringing the company’s advanced tax reporting capabilities to MetaMask’s customer base, stating that reducing the friction associated with calculating and reporting taxes will make the cryptocurrency ecosystem more accessible to everyone. Kai Huang, Sr Product Manager at Consensys, added that integrating top-rated providers to streamline tax reporting is an added benefit for MetaMask users, offering a secure, convenient, and easy-to-use solution.
MetaMask, developed by Consensys, is a widely adopted self-custody web3 platform trusted by a global user base for minting and collecting NFTs, joining DAOs, playing games, and participating in DeFi protocols.
