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Kryptoskatt, now rebranded as Kryptos, is proud to announce its new identity in the Web3 finance space, encompassing a broader vision and enhanced capabilities. This strategic evolution signifies our dedication to simplifying the complexities of cryptocurrency for users worldwide.
Rebranding to Kryptos is not merely cosmetic; it signifies a commitment to core pillars that will guide the company's ongoing and future development efforts. These pillars—trust, education, innovation, and community—underscore Kryptos mission to establish itself as a trusted crypto finance partner.
Drawing inspiration from the enigmatic 'Kryptos' sculpture at the CIA headquarters, known for its unsolved codes, the Kryptos brand symbolizes the unravelling of complexities and mysteries in the crypto finance world. Just as cryptographers and enthusiasts continue to decode this renowned artwork, Kryptos aims to decode and simplify the intricacies of cryptocurrency for its users. Along with the rebranding, we are thrilled to introduce our new mascot – a Wise Cat named ‘Krypto.’ This mascot embodies the intuitive and instinctive guide every user needs to navigate the digital currency world.
"Our rebranding to Kryptos marks a significant evolution in our mission," said Sukesh Kumar Tedla, CEO of Kryptos. "We are not only simplifying tax compliance but also expanding our horizons to provide comprehensive financial management solutions in the Web3 space. Our platform is designed to empower users, whether they're navigating cryptocurrency for the first time or are seasoned investors. Where others see confusion, we see a pattern, a code waiting to be deciphered".
Backed by industry giants such as Binance Labs, Gate Labs, and Blockchain Founders Fund, Kryptos is poised to lead the way in Web3 financial management.
The rebranding positions Kryptos as a beacon of innovation in the crypto space. The platform pledges to continuously evolve and adapt to meet the dynamic needs of its users. With the cryptocurrency landscape ever-changing, Kryptos aims to stay at the forefront, offering cutting-edge solutions and insights.
Beyond being a platform, Kryptos envisions a vibrant community where collaboration and mutual growth thrive. By providing spaces for crypto enthusiasts to connect, share insights, and support one another, Kryptos aspires to be more than a service; it aims to be a hub for collective advancement.
Kryptos offers a comprehensive solution set, including advanced crypto portfolio management, proactive insights, and streamlined accounting & crypto tax reporting. Offering integrations to over 3000+ DeFi protocols, 100+ exchanges and wallets, and 50+ blockchains, our platform stands as a versatile tool for global users.
Join us in embracing this new chapter with Kryptos, where clarity meets strategy in the world of Web3 finance.
About Kryptos:
Kryptos simplifies Web3 finance for clients globally with a comprehensive suite of solutions encompassing accounting, portfolio management, and crypto tax reporting. With integration support for over 3000+ DeFi protocols, 100+ exchanges and wallets, and 50+ blockchains, Kryptos is your ultimate destination for managing Web3 financial needs seamlessly.
All content on Kryptos serves general informational purposes only. It's not intended to replace any professional advice from licensed accountants, attorneys, or certified financial and tax professionals. The information is completed to the best of our knowledge and we at Kryptos do not claim either correctness or accuracy of the same. Before taking any tax position / stance, you should always consider seeking independent legal, financial, taxation or other advice from the professionals. Kryptos is not liable for any loss caused from the use of, or by placing reliance on, the information on this website. Kryptos disclaims any responsibility for the accuracy or adequacy of any positions taken by you in your tax returns. Thank you for being part of our community, and we're excited to continue guiding you on your crypto journey!
| Step | Form | Purpose | Action |
|---|---|---|---|
| 1 | 1099-DA | Reports digital asset sales or exchanges | Use to fill out Form 8949. |
| 2 | Form 1099-MISC | Reports miscellaneous crypto income | Use to fill out Schedule 1 or C. |
| 3 | Form 8949 | Details individual transactions | List each transaction here. |
| 4 | Schedule D | Summarizes capital gains/losses | Transfer totals from Form 8949. |
| 5 | Schedule 1 | Reports miscellaneous income | Include miscellaneous income (if not self-employment). |
| 6 | Schedule C | Reports self-employment income | Include self-employment income and expenses. |
| 7 | Form W-2 | Reports wages (if paid in Bitcoin) | Include wages in total income. |
| 8 | Form 1040 | Primary tax return | Summarize all income, deductions, and tax owed. |
| Date | Event/Requirement |
|---|---|
| January 1, 2025 | Brokers begin tracking and reporting digital asset transactions. |
| February 2026 | Brokers issue Form 1099-DA for the 2025 tax year to taxpayers. |
| April 15, 2026 | Deadline for taxpayers to file their 2025 tax returns with IRS data. |
| Timeline Event | Description |
|---|---|
| Before January 1, 2025 | Taxpayers must identify wallets and accounts containing digital assets and document unused basis. |
| January 1, 2025 | Snapshot date for confirming remaining digital assets in wallets and accounts. |
| March 2025 | Brokers begin issuing Form 1099-DA, reflecting a wallet-specific basis. |
| Before Filing 2025 Tax Returns | Taxpayers must finalize their Safe Harbor Allocation to ensure compliance and avoid penalties. |
| Feature | Use Case Scenario | Technical Details |
|---|---|---|
| Automated Monitoring of Transactions | Alice uses staking on Ethereum 2.0 and yield farming on Uniswap. Kryptos automates tracking of her staking rewards and LP tokens across platforms. | Integrates with Ethereum and Uniswap APIs for real-time tracking and monitoring of transactions. |
| Comprehensive Data Collection | Bob switches between liquidity pools and staking protocols. Kryptos aggregates all transactions, including historical data. | Pulls and consolidates data from multiple sources and supports historical data imports. |
| Advanced Tax Categorization | Carol earns from staking Polkadot and yield farming on Aave. Kryptos categorizes her rewards as ordinary income and investment income. | Uses jurisdiction-specific rules to categorize rewards and guarantee compliance with local tax regulations. |
| Dynamic FMV Calculation | Dave redeems LP tokens for Ethereum and stablecoins. Kryptos calculates the fair market value (FMV) at redemption and during sales. | Updates FMV based on market data and accurately calculates capital gains for transactions. |
| Handling Complex DeFi Transactions | Eve engages in multi-step DeFi transactions. Kryptos tracks value changes and tax implications throughout these processes. | Manages multi-step transactions, including swaps and staking, for comprehensive tax reporting. |
| Real-Time Alerts and Updates | Frank receives alerts on contemporary tax regulations affecting DeFi. Kryptos keeps him updated on relevant changes in tax laws. | Observe regulatory updates and provide real-time alerts about changes in tax regulations. |
| Seamless Tax Reporting Integration | Grace files taxes using TurboTax. Kryptos integrates with TurboTax to import staking and yield farming data easily. | Direct integration with tax software like TurboTax for smooth data import and multi-jurisdictional reporting. |
