Taxbit Appoints Colby Mangels as Global Head of Government Solutions to Enhance Digital Asset Compliance

Taxbit Welcomes Colby Mangels as Global Head of Government Solutions

In a significant move to bolster its leadership and enhance the regulatory landscape for digital assets, Taxbit has announced the appointment of Colby Mangels as its new Global Head of Government Solutions. This strategic appointment marks a step forward in Taxbit's commitment to pioneering tax compliance solutions within the rapidly evolving world of digital assets.

Colby Mangels is not just any addition to the Taxbit team; he comes with an impressive portfolio built during his tenure at the Organization for Economic Co-operation and Development (OECD). At the OECD, Mangels was instrumental in crafting the Crypto-Asset Reporting Framework (CARF), a pioneering international standard aimed at ensuring tax transparency in the crypto space. This framework has gained traction globally, being adopted by more than 70 countries, which speaks volumes about his influence and expertise in financial regulation.

Mangels, a licensed attorney in the U.S., has an extensive background in tax policy, anti-money laundering (AML), and financial regulation. His previous roles included critical development activities at the OECD, where he led the latest amendments to the Common Reporting Standard (CRS). Additionally, he played a key part in conducting peer reviews of various jurisdictions to ensure adherence to these international standards. Before joining the OECD, he was involved with the U.S. Office of the Comptroller of the Currency (OCC), where he focused on federal banking regulations and the oversight of FinTech companies.

In his new position at Taxbit, Mangels will utilize his multilateral experience to foster growth and innovation within the industry. He will work closely with governments, regulators, and international organizations to implement effective digital asset reporting and transparency systems. His role will bridge the gap between policy and technology, enabling both public entities and private businesses to navigate and comply with global standards seamlessly.

Mangels expressed his enthusiasm about joining Taxbit, stating, "Taxbit sits at the intersection of innovation and compliance at a pivotal moment for global digital asset regulation. Having spent years helping governments design the standards that underpin transparency in this sector, I'm excited to now help implement them, ensuring they're applied effectively, consistently, and fairly."

This appointment reflects Taxbit's overarching goal: to advance innovation while enhancing collaboration between regulators and industry players through technology-driven solutions. Colby Mangels’ expertise will be essential in supporting Taxbit's mission of facilitating digital assets’ integration into the global economy by automating tax compliance processes for both enterprises and government agencies.

Lindsey Argalas, CEO of Taxbit, also commented on this significant addition to the team: "Colby's practical experience shaping international crypto policy and financial regulation brings an unmatched perspective to our mission. As digital asset regulation comes into effect worldwide, his leadership will help governments and enterprises move from regulatory intent to practical, tech-enabled compliance."

With over $235 million in funding from global investors, including notable companies such as Ribbit, IVP, Paradigm, Haun Ventures, and PayPal Ventures, Taxbit continues to establish itself as a premier tax and accounting compliance platform for enterprises. Its unique approach, designed by CPAs and tax attorneys, aims to simplify compliance and reporting in the challenging landscape of digital assets. Based in Draper, Utah, Taxbit also has offices marked in major cities such as San Francisco, Seattle, New York, and London.

The future looks promising for Taxbit as it integrates Colby Mangels’ extensive knowledge to drive initiatives that ensure not just compliance, but also a robust and innovative system for managing digital asset taxation on an international scale. For more information about Taxbit, visit their website.

[Source: Taxbit]