Bybit partners with Taxbit to boost global tax compliance for users
Automated reporting streamlines user compliance as new international tax laws reshape digital asset trading platforms worldwide.
Key Takeaways
- Bybit has partnered with Taxbit to enable automated tax information reporting for users under CARF and DAC8 regulations.
- The integration supports compliance across over 70 jurisdictions, making tax reporting seamless for Bybit users.
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Bybit is teaming up with Taxbit to enhance tax compliance capabilities under the Crypto-Asset Reporting Framework (CARF) and the EU’s DAC8 directive, according to a Monday press release.
The partnership will focus on automating tax information reporting for Bybit users across more than 70 jurisdictions globally, ensuring compliance without requiring additional steps from users.
Bybit said that the collaboration is part of its commitment to regulatory compliance and simplifying the trading experience for its international customer base.
“Partnering with Taxbit allows us to meet new international tax standards while making the process as seamless as possible for our users,” said Robert MacDonald, Chief Legal and Compliance Officer of Bybit. “This collaboration ensures our community can trade confidently, knowing that we at Bybit take safety and customer compliance seriously.”
Users will not need to take additional steps beyond providing basic onboarding information. Once activated, the process operates in the background, allowing users to focus on trading while remaining compliant.
“We’re proud to support Bybit on its global CARF journey,” said Lindsey Argalas, CEO of Taxbit. “Bybit’s proactive approach demonstrates real leadership in making regulatory compliance easy and accessible for digital asset users around the world.”
