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Definition: Node40


An online service that keeps track of cryptocurrency transactions in order to be in compliance with the IRS. Launched in 2015, Node40 offers a free service to individuals and paid subscriptions for institutions. Like high-frequency stock trading, high-frequency crypto traders create billions of transactions that have to be monitored for compliance.

Node40 is able to extract the data because programming interfaces (APIs) exist between the major crypto exchanges and wallets. With the user's consent, Node40 is able to tap into and keep track of the trades. See cryptocurrency exchange.




A User's Balance
After opening a free account with Node40, users identify their custodial wallet accounts, and Node40 extracts their balances. See cryptocurrency wallet.