Seasoned finance executive Avinash Shekhar and former CEO of crypto exchange ZebPay, today announced the launch of his own Web3 startup ‘TaxNodes’ with a mission to transform the way cryptocurrency profitability, taxation and reporting is handled. for retail investors and stock exchanges.

Avinash Shekhar is a veteran finance expert and a qualified CPA with over two decades of experience in Crypto, Telecom, Retail and Ecommerce. He is the former CEO of ZebPay, India’s oldest and most widely used crypto-asset exchange. Having been a part of the Indian crypto industry since its early stages, he has been an early and ardent advocate of crypto regulation, both at home and abroad.

While tax compliance is crucial to the legitimacy and maturity of the cryptocurrency ecosystem, retail investors face challenges calculating cryptocurrency profits and taxes in the current environment. TaxNodes aims to simplify the tax calculation process and access individual tax compliance. Additionally, it is focused on helping crypto exchanges increase their internal controls and automate reconciliation and accounting.

The platform will enable retail investors to automate crypto taxation by bringing all their crypto transactions across multiple exchanges, P2P, private wallets, and different blockchains under one roof. TaxNodes focuses on ensuring data integrity and integrity through near real-time profit/loss calculation, portfolio tracking, dashboards, and analytics. The platform plans to offer year-end tax planning and tax reports through which users can file their returns. The company is working to increase internal controls and compliance with tax and regulatory related requirements in the Crypto and Web 3 space.

Maintaining financial statement quality, auditing, crypto reconciliations, client funds protection, KYC and AML compliance, reporting transparency can often become tedious and cumbersome for crypto exchanges. TaxNodes is addressing these challenges by providing solutions to exchanges around crypto reconciliation and crypto accounting automation and integration with traditional accounting systems. Additionally, TaxNodes will help government regulators increase the ability to ensure tax and other compliance by cryptocurrency users and exchanges by providing auditing tools, making the entire process seamless and efficient.

Avinash Shekhar, Founder and CEO, TaxNodes saying, “I am very excited to embark on my entrepreneurial journey with the launch of TaxNodes. While the crypto industry has seen rapid growth in India, investors have been overwhelmed due to a lack of clarity on the taxes on their investments. Most of them face challenges calculating taxes on their investments. TaxNodes aims to address these challenges by identifying and offering comprehensive solutions to pain points through comprehensive audit tools for all stakeholders in the crypto ecosystem.”

TaxNodes is led by a strong team of professionals with deep domain knowledge and combined industry experience of over 40 years. The platform is creating solutions for individuals and institutions by continuously synchronizing chains, platforms, CEX, coins, DeFi, and innovative asset classes that emerge every day.