Taxbit's Global Expansion: Leading Compliance Solutions for Digital Assets in 2026

Taxbit Expands Global Platform for Digital Asset Compliance

In an important strategic move, Taxbit, recognized as a leader in automated tax and accounting solutions for the digital economy, has declared the expansion of its platform to comply with the DAC8 directive and the OECD's Crypto-Asset Reporting Framework (CARF). Starting January 1, 2026, these regulations will revolutionize the landscape for digital asset platforms, which now must adhere to stringent reporting requirements.

Michelle O'Connor, Taxbit's Vice President of Global Market Expansion, emphasized this transition: “With more clarity regarding global reporting obligations, Taxbit enables platforms to meet these new requirements confidently, utilizing an automated, secure, and scalable compliance infrastructure that encourages growth.” The expansion is particularly significant for Reporting Crypto-Asset Service Providers (RCASP) operating in over 65 jurisdictions worldwide. It ensures they can seamlessly manage their tax reporting duties, even across various regulatory frameworks and jurisdictions.

A New Era for Digital Assets

The era of digital asset reporting is upon us. Starting next year, DAC8 and CARF will mark a paradigm shift in how digital assets are handled within financial ecosystems. Taxbit aims to transform regulatory complexities into manageable tasks while providing a frictionless experience for users. Erin Fennimore, Vice President of Tax Solutions at Taxbit, highlighted this shift: “The focus is no longer limited to merely collecting tax data; it’s about making compliance operationally simple.” This approach not only alleviates burdens for platforms but also innovates how they can navigate the often challenging landscape of tax obligations.

Client Success Stories

Prominent client PayPal attests to the invaluable partnership with Taxbit, stating that their collaboration is pivotal for ensuring user satisfaction within the realm of digital asset trading. Through Taxbit, PayPal can build customer trust by providing reliable and easy-to-navigate platforms for tax compliance. This strategic alignment sets PayPal ahead in the fast-evolving cryptocurrency market, enabling it to meet consumer needs efficiently.

Key Features of Taxbit's Platform

Taxbit's platform is robust and equipped with several key features designed to address DAC8/CARF compliance:

1. Digital Self-Certification SDK: This is a plug-and-play tool for tax residency self-certification during user onboarding, streamlining processes and reducing manual entry errors.
2. Automated Reporting Engine: The platform provides an end-to-end solution for generating and filing CARF/DAC8 XML reports, ensuring that clients stay ahead of compliance needs.
3. Enterprise-Grade Security: Taxbit places a high emphasis on security, ensuring encrypted data handling compliant with GDPR and SOC II standards.
4. Real-Time Insights Dashboard: Users can monitor their reporting status, identify discrepancies, and manage associated risks on a large scale.

By integrating these advanced features, Taxbit enables clients to handle the complexities of taxation for digital assets effectively. Not just a service provider, Taxbit positions itself as a strategic partner, turning regulatory compliance into a competitive advantage.

The Future of Compliance in Digital Assets

As the digital asset landscape continues to grow, businesses will need to prioritize reporting accuracy and efficiency. Taxbit's solutions cater to various reporting needs, accommodating a range of requirements from US Information Reporting to Digital Asset Reporting, enabling organizations to manage high-volume, intricate transactions seamlessly. With a foundation built by tax experts and boasted by leading technology, Taxbit ensures that businesses remain compliant, empowered, and primed for future challenges.

About Taxbit

Taxbit is an advanced tax and accounting compliance platform crafted by industry professionals including CPAs and tax attorneys, aimed at simplifying the compliance and reporting processes surrounding digital assets. Trusted by enterprises, financial institutions, and government bodies, the platform enhances compliance accuracy and streamlines tax procedures. Certified with SOC compliance seals and backed by significant investments from leading global financiers like Ribbit and PayPal Ventures, Taxbit is headquartered in Draper, Utah, and operates multiple offices across major US cities. For more details, visit www.taxbit.com.