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

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

Additionally, TaxNodes aims to ensure data integrity and integrity through 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. It is reportedly working to increase internal controls and adherence to compliance related to taxes and regulations in the crypto and Web3.0 space. Additionally, the platform is expected to help government regulators increase the ability to ensure tax and other compliance by cryptocurrency users and exchanges by providing auditing tools.

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

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