Bybit partners with Crypto Tax Calculator to streamline global tax compliance via API integration.

Bybit, the second-largest cryptocurrency exchange by trading volume, has partnered with Crypto Tax Calculator (CTC), a compliance-focused tax reporting platform, to simplify tax obligations for its global user base. The integration, which marks CTC as the fourth authorized tax tool on Bybit, allows users to generate compliance-ready reports directly through their Bybit accounts. The platform supports over 3,500 crypto assets and adheres to tax regulations in more than 100 jurisdictions, streamlining the reporting process for transactions ranging from traditional trading to decentralized finance (DeFi) and non-fungible tokens (NFTs) [1].

The collaboration leverages CTC’s API integration with Bybit, enabling real-time synchronization of user wallet metadata. This feature allows traders to automate tax calculations, reducing manual effort and minimizing errors. Users can import data via API or CSV files, catering to diverse preferences. New CTC users signing up through Bybit receive a 30% discount on their first-year subscription, lowering the cost barrier for compliance [2].

CTC’s solution, which includes CPA-reviewed reports and a 4.8/5 Trustpilot rating, addresses the growing complexity of cryptocurrency taxation as regulatory scrutiny intensifies globally. Authorities in the U.S., EU, and UK have implemented stricter reporting requirements, increasing the risk of audits for users who manually track gains, losses, and multiple blockchain assets. The Bybit-CTC partnership aims to mitigate these risks by providing a centralized, professional tool for accurate filings [3].

The partnership aligns with Bybit’s broader strategy to enhance user experience amid evolving regulatory landscapes. While the exchange has previously focused on sustainability and community initiatives, this move signals a shift toward compliance infrastructure. Analysts note that such integrations are critical for exchanges to retain users in a post-CARF (Crypto-Asset Reporting Framework) environment, where tax transparency is paramount [4].

Bybit users can access CTC’s tools via their exchange accounts, with the process streamlined to eliminate the need for third-party software. The collaboration emphasizes global accessibility, avoiding region-specific references while focusing on the needs of a diverse user base. This integration underscores the industry’s trend of exchanges prioritizing compliance solutions to navigate tightening crypto regulations [5].

Sources:

[1] [title: Bybit Partners with Crypto Tax Calculator to Simplify ...] [url: https://www.prnewswire.com/news-releases/bybit-partners-with-crypto-tax-calculator-to-simplify-crypto-tax-compliance-for-users-302513852.html]

[2] [title: Bybit Collaborates with Crypto Tax Calculator to Enhance ...] [url: https://investorshangout.com/bybit-collaborates-with-crypto-tax-calculator-to-enhance-user-experience-339212-/]

[3] [title: Media Releases - AAP News] [url: https://aapnews.aap.com.au/media-releases]

[4] [title: StreetInsider.com - Press Releases] [url: https://www.streetinsider.com/Press+Releases?before_id=25096708]

[5] [title: World shares retreat after Alphabet and AI stocks nudge ...] [url: https://www.wfmz.com/business/world-shares-retreat-after-alphabet-and-ai-stocks-nudge-wall-street-to-more-records/article_f1ecdb51-3fe4-5910-9dad-947a20918698.html]