Avinash Shekhar, ZebPay’s former CEO, unveils his Web3.0 startup called TaxNodes

Avinash Shekhar, former CEO, ZebPay, a crypto exchange, has announced the launch of his own Web3.0 startup ‘TaxNodes.’ It is believed that the initiative aims to transform the way crypto profitability, taxation and reporting is handled for retail investors. as well as exchanges.

According to Shekhar, TaxNodes aims to simplify the tax computing process and assess individual tax compliance. The startup intends to focus on helping crypto exchanges to increase their internal controls and automate reconciliation and accounting. It is believed that the startup will enable retail investors to automate crypto taxation by bringing their crypto transactions across exchanges, P2P, private wallets and blockchains. 

Moreover, TaxNodes aims to ensure completeness of data and its integrity through real-time profit/loss computation, portfolio tracking, dashboards and analysis. The platform plans to offer tax planning and  year-end tax reports through which users can file their returns. Reportedly, it is working towards increasing internal controls and adherence to compliances related to taxation and regulations in the crypto and Web3.0 space. Additionally, the platform is expected to help government regulators to increase the ability to ensure tax and other compliance from crypto users and exchanges by providing audit tools.

“I look forward to embarking on my entrepreneurial journey with the launch of TaxNodes. TaxNodes aims to address challenges by identifying and offering end-to-end solutions to pain-points through auditing tools to all stakeholders in the crypto ecosystem,” Shekhar, founder and CEO, TaxNodes, said.

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