KoinX, a cryptocurrency taxation platform, has announced its acquisition of Crypto Kanoon, a platform engaged in cryptocurrency regulation knowledge building. Through this acquisition, KoinX aims to grow awareness on cryptocurrency taxation as well as bring insights to Indian investors and potential customers through Crypto Kanoon’s claimed more than 120,000 social media audience.
According to Punit Agarwal, founder and CEO, KoinX, the acquisition aims to help the platform get access to their community participants who are also their potential customers and are looking for legal and cryptocurrency tax queries to be solved, as India is expected to move towards a regulated environment for digital assets.
“We look forward to see Crypto Kanoon in the hands of the KoinX team. Our goal through Crypto Kanoon has been to explain regulatory developments in an easy and simple manner. We hope to witness its next phase through the KoinX acquisition which is expected to bring value to the cryptocurrency community in India,” Kashif Raza, co-founder, Crypto Kanoon, said.
As stated by KoinX, it is a cryptocurrency taxation platform, launched in 2022 by Punit Agarwal that lets cryptocurrency investors automate their cryptocurrency taxations by integrating their portfolio and transactions on a single platform with centralised dashboards. The platform claims to be currently integrated with six cryptocurrency exchanges used by Indians which enables cryptocurrency investors to integrate them and calculate the taxes in one go.
Going by Crypto Kanoon’s website, which was founded by individuals such as Kashif Raza and Mohammad Danish in 2018, it is a platform in the cryptocurrency community that played a role in educating people about cryptocurrencies, blockchain, as well as cryptocurrency taxation. Since its inception, it has aimed to grow as a cryptocurrency news and analysis platform on Twitter and YouTube, with an audience that includes C-suite and industry experts from cryptocurrency exchanges such as Binance and BitFinex.