Taxbit, the provider of automated tax and accounting solutions for the digital economy, announced the expansion of its platform to support compliance across the EU’s DAC8 directive and the OECD’s Crypto-Asset Reporting Framework (CARF).
This expansion enables Reporting Crypto-Asset Service Providers (RCASP) in 65+ jurisdictions to “automate tax reporting obligations —across borders, jurisdictions, and regulatory regimes—through a secure and scalable platform.”
Taxbit enables digital asset platforms to “automate CARF/DAC8 reporting via a single, enterprise-grade platform.”
Michelle O’Connor, VP Global Market Expansion at Taxbit said:
“Effective January 1, 2026, DAC8 and CARF regulations will reshape the digital asset landscape, marking a critical turning point for digital asset platforms. With greater clarity around global reporting obligations, Taxbit empowers these platforms to confidently meet new requirements– through automated, secure, and scalable compliance infrastructure that unlocks seamless growth.”
Taxbit’s mission is to enable digital assets for the global economy.
The expansion to support CARF/DAC8 represents a critical opportunity to solidify Taxbit’s leadership as “66 jurisdictions enter their first global information reporting season under CARF/DAC8 in 2026.”
Erin Fennimore, VP of Tax Solutions at Taxbit said:
“The challenge is no longer just collecting and reporting tax data–it’s about transforming regulatory complexity into operational simplicity while preserving a frictionless user experience. Our platform enables clients to turn compliance into a competitive advantage – automated, accurate at scale, and ready for whatever’s next.”
Key Capabilities of Taxbit for DAC8/CARF
- Digital Self-Certification SDK: Plug-and-play tool for user tax residency self-certification at onboarding
- Automated Reporting Engine: End-to-end generation and filing of CARF/DAC8 xml reports
- Enterprise-Grade Security: Encrypted data handling, fully compliant with GDPR and SOC II
- Real-Time Insights Dashboard: Monitor reporting status, identify gaps, and manage risk at scale
Taxbit’s platform now supports “US Information Reporting (W-9/8, US 1099s & 1042-S), Digital Asset Reporting (CARF/DAC8, 1099-DA, Digital Asset Cost Basis Engine), Marketplaces & Gig Platforms (Digital Platform Income/MRDP/DAC7/SERR, US 1099s) as well as crypto accounting reporting needs – delivering automation for enterprises managing high-volume, high-complexity, cross-border transactions.”
Taxbit says that it ensures reporting accuracy “at scale—empowering businesses to stay compliant, in control, and ready for the future.”
As covered, Taxbit is the tax and accounting compliance platform designed by CPAs and tax attorneys to simplify compliance and reporting “for digital assets. Enterprises, financial institutions, and government agencies trust our comprehensive, end-to-end solution to streamline compliance and ensure accuracy.”
Taxbit also mentioned that it is certified with “SOC 1 Type 1, SOC 2 Type 2 attestation, and ISO 27001 standards.”
With over $235 million in funding from investors like Ribbit, IVP, Paradigm, Haun Ventures, and PayPal Ventures, Taxbit notes that it is headquartered in Draper, Utah, and has “offices in Salt Lake City, San Francisco, Seattle, New York, and Washington, D.C.”