Bybit partners with CTC to automate crypto tax compliance, offers 30% discount to new users

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has partnered with Crypto Tax Calculator (CTC) to streamline tax compliance for its users. This collaboration expands Bybit’s official tax partner ecosystem, joining Koinly, Cryptact, and KoinX, and provides access to CTC’s platform, which supports over 3,500 integrations across exchanges, wallets, and blockchain protocols. The integration automates tax report generation through Bybit’s API, enabling users to track transactions, calculate capital gains, and meet regulatory obligations with minimal manual effort. New CTC subscribers via Bybit receive a 30% discount on their first-year subscription [1].

CTC’s platform is designed to handle diverse crypto activities, including exchange trading, DeFi protocols, NFT transactions, and staking. It generates accountant-endorsed tax reports compliant with regulations in over 100 jurisdictions. The platform’s 4.8/5 Trustpilot rating underscores its reliability, while its integration with Bybit ensures flexibility through API connections or CSV file uploads [1]. The partnership addresses growing regulatory demands, as jurisdictions like the U.S., EU, and UK enforce stricter digital asset reporting requirements. By automating data synchronization and reducing manual entry errors, the integration aligns with broader industry trends where tax tools are becoming a critical differentiator for crypto platforms [2][3].

The collaboration leverages CTC’s existing infrastructure, which serves over 500,000 global users, while expanding Bybit’s reach to CTC’s user base. This move enhances Bybit’s value proposition beyond trading and staking, positioning it as a one-stop solution for crypto-related financial management. It also complements Bybit’s broader strategy, including initiatives like the $1M EthicHub project focused on sustainability [4]. For CTC, the partnership amplifies its market presence, offering institutional-grade tax reporting to Bybit’s 60+ million monthly active users.

The partnership reflects a strategic response to the crypto industry’s evolving compliance landscape. As tax authorities demand greater transparency, platforms integrating such tools may gain a competitive edge. Bybit’s move could encourage other exchanges to adopt similar partnerships, accelerating adoption of tax automation tools. However, success depends on user adoption and the platform’s ability to handle complex tax scenarios across diverse jurisdictions. While third-party tools introduce potential risks, CTC’s established data security practices mitigate these concerns [2].

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

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

[4] [Bybit’s $1M EthicHub Investment shifts 100 tons of LATAM](https://www.newswire.ca/news-releases/)