CoinSwitch is India’s largest and most trusted crypto investment platform, empowering over 2 crore users to buy, sell, and track digital assets with ease. Founded in 2017 and headquartered in Bengaluru, CoinSwitch is backed by leading global investors including a16z, Tiger Global, Sequoia Capital India, and Coinbase Ventures.
With India’s crypto regulations evolving rapidly, CoinSwitch identified a growing need to help users stay tax compliant, especially when it comes to calculating gains, losses, and liabilities across a complex web of digital transactions.
CHALLENGE
Turning Crypto Chaos into Tax Clarity
Crypto investing on CoinSwitch had scaled rapidly, with users trading across hundreds of tokens, engaging in futures and options and managing assets across multiple wallets. But when tax season arrived, so did the complexity.
Calculating gains and losses across fragmented transactions, while accounting for events like staking rewards and airdrops was daunting for users and posed real compliance risks. Traditional tools like CSV exports and spreadsheets weren’t built to handle the volume of crypto activity.
What should have been a simple tax summary turned into a tedious, error prone process that often left users overwhelmed.
SOLUTION
Seamless, Compliant Tax Reporting with Sandbox’s Tax P&L API
To simplify tax compliance and enhance user experience, CoinSwitch integrated Sandbox’s Tax P&L APIs directly into its platform. This integration allowed users to instantly view a detailed, real-time breakdown of their short and long-term capital gains, income from staking, airdrops alongside a clear picture of their tax liabilities and holding periods. With just a few clicks, users could generate and download reports, making crypto tax filing effortless.
RESULTS
Compliance at Scale, Confidence for Users
The Tax P&L APIs has enabled CoinSwitch to deliver crypto tax reporting at scale, accurately and effortlessly. With over 1 million Tax P&L reports downloaded annually, users now have access to instant, audit-ready summaries. This automation has driven a 95% reduction in compliance related overheads, allowing CoinSwitch to reallocate internal resources and reduce operational complexity.
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