**Bybit Partners with Taxbit to Streamline Automated Tax Reporting Under CARF and DAC8 Regulations**
Bybit has announced a new partnership with Taxbit aimed at enhancing tax compliance for its users through automated tax information reporting. This collaboration supports adherence to the Crypto-Asset Reporting Framework (CARF) and the European Union’s DAC8 directive, covering over 70 jurisdictions worldwide.
According to a press release issued on Monday, the integration will make tax reporting seamless for Bybit users, eliminating the need for additional steps. The process will run automatically in the background once activated, allowing traders to focus on their activities with confidence in regulatory compliance.
Robert MacDonald, Chief Legal and Compliance Officer at Bybit, emphasized the significance of the partnership, stating, “Partnering with Taxbit allows us to meet new international tax standards while making the process as seamless as possible for our users. This collaboration ensures our community can trade confidently, knowing that we at Bybit take safety and customer compliance seriously.”
Bybit highlighted that users only need to provide basic onboarding information to activate the automated tax reporting feature. This move underscores Bybit’s ongoing commitment to regulatory compliance and simplifying the trading experience for its global customer base.
https://bitcoinethereumnews.com/tech/bybit-partners-with-taxbit-to-boost-global-tax-compliance-for-users/
