Kraken & Koinly Team Up to Simplify Crypto Taxes

Cryptocurrency exchange Kraken has expanded its partnership with Koinly, a leading crypto tax reporting solution, to simplify the process of tracking and filing crypto taxes for its clients. The complexities of crypto taxes have long been a barrier to fully exploring the crypto ecosystem, and this partnership aims to address that challenge.

The partnership offers a 25% discount on any Koinly paid plans for all Kraken clients, regardless of the country they report their crypto tax obligations to. This discount applies to transactions made on Kraken and other crypto trading platforms. Koinly simplifies crypto tax reporting by automating the tracking, calculation, and analysis of crypto gains, losses, and income.

Koinly's features include easy import of trades, preview of capital gains, and the ability to download tax documents for self-filing, tax software, or accountants. The service is available in over 100 countries globally. Kraken clients can access this offer by navigating to the settings tab in Kraken or Kraken Pro on mobile or web and connecting via Single Sign-on (SSO) to Koinly.

Kraken prioritizes client privacy and security, with an opt-in offer that does not share any data unless the client chooses to connect their Kraken account with Koinly. Kraken upholds industry-leading security and data protection standards, including full encryption of sensitive information, strict access controls, and advanced monitoring to prevent unauthorized access.

Over the coming months, Kraken and Koinly will explore additional ways to make crypto taxes more accessible for their clients. This partnership is a significant step towards demystifying crypto tax reporting and encouraging more users to engage with the crypto ecosystem.