TaxBit Announces European Expansion Amidst Increasing Demand for Digital Asset Compliance Solutions

[New York, NY, April 2, 2024 ]—TaxBit, the industry leader in digital asset tax and accounting solutions, announced its strategic expansion into Europe in response to rapidly increasing adoption across the European digital asset market. This move follows recent regulatory developments and the increased demand for TaxBit's tax and accounting compliance solutions. 

“Europe has led the way in providing regulatory clarity for payments and digital asset innovation,” says TaxBit CEO Lindsey Argalas. “We’re excited to support European governments and companies, furthering our mission of enabling compliant adoption of digital assets for the global economy.”   

TaxBit continues to showcase product momentum with the recent European launch of its DAC7 and CESOP tax offerings and IFRS-compliant accounting solution.  These address the complex reporting requirements impacting EU entities engaged in cross-border payments and digital asset activities, underscoring TaxBit’s commitment to staying at the forefront of regulatory adherence in the ever-evolving landscape.

Dr. Max Bernt, one of the leading thinkers and foremost experts on European tax policy for digital assets, has joined TaxBit as the Managing Director of Europe to steward the company’s efforts in the region. Leveraging his regulatory insights and deep ecosystem network, Dr. Bernt will be pivotal in helping companies and governments navigate the complexities of the European digital asset market as MiCA and DAC8 regulations come into effect.

Complementing TaxBit’s robust enterprise and government technology and subject matter expertise, TaxBit has proudly partnered with Blockpit, the leading European crypto tax provider for individuals. Together, they are poised to tackle the complex tax and accounting reporting challenges that crypto asset service providers, institutional investors, and individual traders face. This partnership enhances both companies' offerings and manifests their shared vision for a compliant and transparent global digital asset ecosystem.

Blockpit CEO Florian Wimmer sees excellent synergy: “For many years, we have been chosen by most European crypto service providers to support them with the consumer side of tax reporting. The partnership with TaxBit now allows us to complement this offering with a best-in-class solution for their reporting needs, where enforcement is just around the corner.”

For more detailed information on TaxBit’s DAC7, CESOP, and IFRS Compliance Solutions, please visit taxbit.com and discover how TaxBit continues revolutionizing the digital asset compliance landscape globally.