Taxbit Expands Global Platform to Power CARF/DAC8 Compliance at Scale

As regulatory clarity emerges, Taxbit enables digital asset platforms to automate CARF/DAC8 reporting through a single, enterprise-grade platform starting January 1, 2026.

SAN FRANCISCO, March 26, 2025 /PRNewswire/ -- Taxbit, the leading provider of automated tax and accounting solutions for the digital economy, today 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 strategic 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.

A New Era of Digital Asset Reporting
"Effective January 1, 2026, DAC8 and CARF regulations will reshape the digital asset landscape, marking a critical turning point for digital asset platforms," said Michelle O'Connor, VP Global Market Expansion at Taxbit.  "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."

Powering Integrity in the Digital Asset Economy
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. "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," said Erin Fennimore, VP of Tax Solutions at Taxbit. "Our platform enables clients to turn compliance into a competitive advantage – automated, accurate at scale, and ready for whatever's next."

One such client is PayPal, which shared: "Working with Taxbit has been critical to PayPal's success. Taxbit allows us to further build customer trust on multiple levels by providing ease and reliability in the new realm of digital asset trading, education, and documentation to support tax obligations. With these contributions, Taxbit is helping PayPal stay several steps ahead in the rapidly changing global cryptocurrency market."

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

Compliance at Scale, Designed for Digital Assets
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 comprehensive automation for enterprises managing high-volume, high-complexity, cross-border transactions. Built by tax experts and powered by advanced technology, Taxbit ensures reporting accuracy at scale—empowering businesses to stay compliant, in control, and ready for the future.

About Taxbit
Taxbit is the premier 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 is certified with SOC 1 Type 1, SOC 2 Type 2 attestation, and ISO 27001 standards. With over $235 million in funding from top global investors like Ribbit, IVP, Paradigm, Haun Ventures, and PayPal Ventures, Taxbit is headquartered in Draper, Utah, and has offices in Salt Lake City, San Francisco, Seattle, New York, and Washington, D.C. Discover more at www.taxbit.com.

Learn more at [www.taxbit.com]

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SOURCE Taxbit