Taxbit Partners with Global Blockchain Business Council for Compliance Needs

Taxbit, an enterprise-grade tax and accounting compliance platform for digital assets, has partnered with the Global Blockchain Business Council (GBBC) to support their financial reporting requirements and global accounting needs. GBBC, a non-profit association with over 500 institutional members across 124 jurisdictions, will use Taxbit's proprietary software and APIs to ensure compliance with frameworks like CARF, DAC8, MiCA, and IRS policy. This collaboration highlights a growing trend among institutions to integrate compliance infrastructure as digital assets become mainstream.

Singapore, June 12, 2025 - Taxbit, a leading enterprise-grade tax and accounting compliance platform for digital assets, has announced a strategic partnership with the Global Blockchain Business Council (GBBC). This collaboration aims to support GBBC's financial reporting requirements and global accounting needs, as digital assets continue to gain mainstream acceptance.

GBBC, a non-profit association with over 500 institutional members across 124 jurisdictions, will utilize Taxbit's proprietary software and APIs to ensure compliance with various regulatory frameworks. These include CARF (Crypto Asset Reporting Framework), DAC8 (Directive on Administrative Cooperation), MiCA (Markets in Crypto-Assets), and IRS policy. The integration of Taxbit's platform is expected to streamline GBBC's compliance processes and enhance efficiency in financial reporting.

The partnership underscores a growing trend among institutions to adopt robust compliance infrastructure as digital assets become more prevalent. According to a report by the Investor and Financial Education Council, a subsidiary of the Hong Kong Securities and Futures Commission (SFC), nearly 8% of Hong Kong retail investors held virtual assets or related products in 2023, marking a significant increase from 1% in 2019 [1]. This rising interest highlights the need for comprehensive compliance solutions tailored to the digital asset ecosystem.

"Our partnership with GBBC reflects our commitment to providing cutting-edge compliance solutions for the digital asset industry," said Rohith Murthy, CEO of Taxbit. "By leveraging our proprietary software and APIs, GBBC can ensure seamless compliance with global regulatory frameworks, thereby enhancing their operational efficiency and financial reporting accuracy."

The collaboration also aligns with GBBC's mission to promote the adoption of blockchain technology and digital assets worldwide. "We are delighted to partner with Taxbit to enhance our members' financial reporting capabilities," said a GBBC spokesperson. "This partnership will enable us to better support our members in navigating the complex regulatory landscape of digital assets."

References:
[1] https://www.businesstimes.com.sg/singapore/moneyhero-expands-digital-assets-partnership-osl