Bybit Partners with Crypto Tax Calculator to Streamline Global Tax Reporting for Users

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has expanded its tax compliance offerings through a partnership with Crypto Tax Calculator (CTC), a global leader in crypto tax reporting. This collaboration adds CTC as the fourth official tax partner for Bybit users, joining Koinly, Cryptact, and KoinX. The integration enables users to generate automated tax reports directly from their Bybit wallet metadata via CTC’s platform, which supports over 3,500 integrations and serves 100+ jurisdictions. New CTC users through Bybit receive a 30% discount on their first-year subscription, streamlining tax compliance for a global user base [1].

CTC’s platform is designed to handle diverse crypto activities, including exchange trading, DeFi protocols, staking, and NFT transactions. It produces CPA-endorsed tax reports tailored to regulatory requirements in over 100 countries and is rated 4.8/5 on Trustpilot. The integration with Bybit’s API ensures seamless data synchronization, while users also have the option to upload transaction data via CSV files, offering flexibility in tax reporting workflows [1].

The partnership reflects Bybit’s strategic focus on addressing regulatory challenges in a rapidly evolving crypto landscape. As jurisdictions impose stricter tax obligations, platforms must provide tools to mitigate compliance risks and user errors. Bybit’s integration of CTC’s technology aligns with its broader mission to bridge traditional finance and DeFi, offering institutional-grade solutions to traders and investors. This move is particularly relevant for Bybit’s international user base, where varying tax laws—such as the EU’s MiCA framework and U.S. IRS guidelines—necessitate robust compliance infrastructure [2].

For the crypto industry, the collaboration underscores the growing demand for specialized tax tools. Analysts note that exchanges integrating compliance solutions are gaining a competitive edge, as users increasingly prioritize platforms that simplify regulatory adherence. Bybit’s proactive approach not only enhances user trust but also positions it to attract institutional participants, who often require clear compliance frameworks before engaging in crypto markets [3]. The partnership also highlights the role of fintech providers like CTC in bridging gaps between traditional financial systems and blockchain innovation, without Bybit expanding into new business lines [5].

The integration’s success will depend on user adoption of CTC’s platform and its effectiveness in meeting diverse regulatory requirements. By reducing the complexity of tracking gains, losses, and obligations across multiple chains and protocols, Bybit and CTC aim to lower barriers to crypto adoption. This aligns with broader industry trends where compliance infrastructure is becoming a cornerstone of mainstream acceptance. As regulatory scrutiny intensifies, platforms that prioritize user-friendly tax solutions will likely see increased traction in markets where compliance is a critical factor for both retail and institutional investors [4].

Source:

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

[2] [Computer & Electronics - News Releases] [https://www.prnewswire.com/news-releases/business-technology-latest-news/computer-electronics-list/]

[3] [Latest Business Technology News and Press Releases] [https://www.newswire.ca/news-releases/business-technology-latest-news/]

[4] [Media Releases - AAP News] [https://www.newswire.ca/news-releases/]

[5] [Dan Steinbock | Author] [https://www.manilatimes.net/author/dan-steinbock]