# Crypto tracking for the Safex ecosystem

**URL:** <https://forum.safex.org/t/crypto-tracking-for-the-safex-ecosystem/7940>\
**Category:** Development\
**Created:** [September 10, 2021, 9:02pm UTC](https://forum.safex.org/t/crypto-tracking-for-the-safex-ecosystem/7940 "2021-09-10T21:02:14Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![jcasale](https://forum.safex.org/letter_avatar_proxy/v4/letter/j/8c91f0/32.png) [@jcasale](https://forum.safex.org/u/jcasale)\
**Post date:** [September 10, 2021, 9:02pm UTC](https://forum.safex.org/t/crypto-tracking-for-the-safex-ecosystem/7940/1 "2021-09-10T21:02:14Z")

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I’ve been hodling Safex since it was Safe Exchange Coin from back in 2017. I did receive an airdrop of Safex Cash for the safe exchange coin that was converted to Safex Token. There are tax consequences for that, as well as for earning crypto through mining, staking, purchasing, and receiving as payment. In addition, capital gains must be paid for crypto that is held, thereby potentially increasing in value. The tax liability for capital gains depends on the period of time the newly acquired crypto was held, i.e. less than a year or more than a year.

While there are many crypto tax software companies out there, Koinly, Cointracker, Accointing, Tokentax and ZenLedger to name a few, TaxBit is another one that I reached out to directly. I received the following response:

\<\<\< Hey Joseph!

Hope you are having a great Thursday afternoon. 🙂

If the wallet itself offers an API then it’s totally possible that TaxBit may be able to use it! I definitely can’t make any guarantees about TaxBit being able to use the API, as there are a ton of logistics and things that need to be worked out in order for it to be possible, but I can tell you this:  
When the wallet gets launched, and you decide to use TaxBit to help you keep track of things and keep up with crypto taxes, let us know that you use Safex wallet, that you believe they offer an API, and that you like to request that it be added so that we can take a look at things for ya. 🙂

Hopefully this helps, Joseph. 🙂 Have an amazing rest of your day! \>\>\>

> **[Cryptocurrency Tax Laws in 2021: What You Need to Know](https://taxbit.com/blog/cryptocurrency-tax-laws-in-2021-what-you-need-to-know/)**
>
> This guide will cover all you need to know about the most up-to-date cryptocurrency tax laws, including the tax implications of crypto trading, mining, staking, NFTs, DeFi, harvesting losses, and more!

If anybody uses or knows of crypto tax software that integrates the Safex API’s, please let me know.

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**Author:** ![jcasale](https://forum.safex.org/letter_avatar_proxy/v4/letter/j/8c91f0/32.png) [@jcasale](https://forum.safex.org/u/jcasale)\
**Post date:** [September 12, 2021, 5:26pm UTC](https://forum.safex.org/t/crypto-tracking-for-the-safex-ecosystem/7940/3 "2021-09-12T17:26:38Z")

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Hi @DebielDebiel

Do you live in the USA and we’re you notified that your state does not authorize the use of the xCalibra exchange?

As a resident of the state of Connecticut I received the following below. Fortunately I did not have any funds on the exchange at the time:

 ![image](https://forum.safex.org/uploads/default/original/2X/8/8543df0a19aa7506c89d336ab2b87191b4542225.png)

@dandabek is aware of this issue and is in the process of making xCalibra legal to use in all 50 states.

Best Wishes!

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**Author:** ![jcasale](https://forum.safex.org/letter_avatar_proxy/v4/letter/j/8c91f0/32.png) [@jcasale](https://forum.safex.org/u/jcasale)\
**Post date:** [September 13, 2021, 1:57am UTC](https://forum.safex.org/t/crypto-tracking-for-the-safex-ecosystem/7940/4 "2021-09-13T01:57:59Z")

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Hi Debie,

Dan has a lot on his plate. He’s working really hard towards the success of the Safex project. But I understand frustration and so does Dan!

Rest assured than neither @dandabek nor xCalibra are scams! He has defended allegations such as this legally against those who have tried to damage his credibility, while at the same time these imposters have attempted to infringe on the Safex cryptocurrency brand. Would a scammer stand behind his product. Most likely they’d tuck tail and you’d never hear from them again. Not Dan, he is quite transparent!

Here is an update from Dan Dabek’s Twitter account:

> <https://mobile.twitter.com/officialdabek/status/1437223232277565443>

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**Author:** ![aussiesloth](https://forum.safex.org/user_avatar/forum.safex.org/aussiesloth/32/2080_2.png) [@aussiesloth](https://forum.safex.org/u/aussiesloth)\
**Post date:** [September 13, 2021, 5:54am UTC](https://forum.safex.org/t/crypto-tracking-for-the-safex-ecosystem/7940/5 "2021-09-13T05:54:19Z")

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Removed post (and several others by same user) - FUD.