Taxbit

?? We are a Talent Titan — beyond excited to share that Taxbit has been named one of the Talent Titans Top 100 Companies to Work For in Web3! ?? This recognition reflects the hard work and dedication of our amazing team, and we couldn't be more proud. Together, we're shaping the future of Web3 and creating a work culture that fosters innovation, collaboration, and growth. ?? A big thank you to @calyptus-web3 for this incredible honor and to our team for making Taxbit such a special place to work! ?? #TalentTitans #Web3 #Top100 #CompanyCulture #web3 #Innovation

??BREAKING: The OECD has just released the XML Schema for the Crypto-Asset Reporting Framework (CARF) and FAQs, which include guidance on non-custodial exchanges (and #DeFi). This means that non-custodial platforms may still be considered Reporting Crypto-Asset Service Providers (RCASPs) if they enable exchange transactions. Key updates include: - Standardized transfer categories like airdrops, staking income, mining income - Increased transparency for tax administrations? -Implications for decentralized exchanges (#DEX) and non-custodial services Is your business ready for CARF? Check out this blog post by Dr. Max Bernt: https://bit.ly/3XTrQAW

??JUST IN: OECD - OCDE releases the XML Schema for the Crypto-Asset Reporting Framework (CARF) AND supporting FAQs, including the question of the inclusion of non-custodial exchanges (and #DeFi). Key Updates include ?? ??The treatment of non-custodial exchanges, which may include decentralized exchanges (#DEX), has been a matter of significant debate. The FAQs (and related press-release) now clarify that non-custodial service providers, including those operating in decentralized environments, may still be considered Reporting Crypto-Asset Service Providers (RCASPs) if they provide a service effectuating Exchange Transactions for or on behalf of customers, including […] by making available a trading platform. Although decentralized exchanges are not explicitly referenced in the FAQs (anymore), this clarification highlights that such platforms are not automatically excluded from the CARF framework, depending on their functional role. However, the OECD has indicated that work on further and more detailed guidance is underway on relevant aspects surrounding the application of the CARF to non-custodial and decentralised services - hot, hot topic! ?? ?? The XML Schema and its Implications: Among other things, the newly released XML Schema finally introduces specific Transfer Type categories for crypto transactions, including: ?? Airdrops ?? Staking income ?? Mining income ?? Crypto loans ?? Transfers from another RCASP ?? Sales of goods or services ?? Collateral ?? Other ?? Unkown (default when no knowledge of the transfer type is available) ??By standardizing these transfer types, the schema enhances the transparency of crypto-asset transactions, allowing tax administrations to more effectively evaluate tax-relevant activities. The XML format should ensure uniformity across jurisdictions (at least to a certain extent), offering both service providers and tax administrations a clear structure for reporting. ??♂?However, numerous improvements still need to be made to the actual practical implementation of the reporting process in order to achieve CARF's objectives, especially given that cryptocurrencies are widely used in many developing countries that will adhere to CARF rules - in short, make it simple & more streamlined across participating jurisdictions?? ?? What This Means for the Industry: CARF extends tax reporting obligations to a broad array of VASPs/CASPs, ensuring that digital assets are treated with the same rigor as traditional financial instruments. This framework will significantly increase regulatory scrutiny, particularly in areas like (sometimes not so) decentralized finance and non-custodial services. With the first exchanges expected by 2026, CASP/VASPs should begin preparing asap to align with these global standards. ..and yes, true DeFi should not report, otherwise it would not be DeFi. So, let's look at control and influence again - lots of stuff to do ?? Taxbit, Dion, Barbara, Corinna, Lawrence, Beatriz, Mike, Yitzhak

Registration has opened for EEi’s fall virtual sessions, secure your spot today!

?? Introducing The Taxbit Digest: Our New Monthly LinkedIn Newsletter! We’re excited to announce the launch of the first edition of the Taxbit Digest, a monthly publication designed to keep you informed on the latest developments in the world of digital asset accounting and tax reporting. This month's edition focuses on Taxbit's enterprise-grade accounting platform and includes key updates to help streamline workflows and ensure compliance. Highlights include: - FASB disclosures for digital asset reporting - Enhanced transaction volume processing - xPub support for HD wallets - Custom categories for better data organization - Legal entity reporting features - New integrations with Arbitrum, Avalanche, Ripple custody, and more! - Taxbit travels: meet our team in person at the European Blockchain Convention (EBC), Barcelona - Industry pulse: latest digital asset finance news Next month's edition will dive into all things tax reporting. ? Stay ahead of the curve and subscribe to the Taxbit Digest today for key insights and updates.

At the Sustainability Summit on September 24th, Michelle O'Connor, Taxbit, will be speaking alongside Nilmini Rubin, Chief Policy Officer, Hedera, and Emma Hietaniemi, United Nations Population Fund (UNFPA), on the panel: “Empowering Women in Tech and Beyond: Bridging Gender Gaps for Sustainable Development”, moderated by Sandra Ro ????.

Signing off from Singapore after an eventful week. TOKEN2049 lived up to the expectations bringing together some of the brightest minds in Web3. Got to reconnect with some friends and made new connections. Attended some amazing events organized by Bitlayer Uniswap Labs OKX Coinstore Luna PR Glassnode Cryptorsy Had some insightful discussions around - ETFs - Current markets and how the next 6 months could turn out to be - Tokenization & RWAs - How Taxbit is streamlining Accounting & Tax for Digital Assets Watching bit of F1 practice sessions & Singapore’s fantastic skyline while networking was a bonus. Hope to visit this amazing country again ! Aaron Jacob Michael Featherstone Anton F. Harsh Agarwal Harsh Saxena ? Akshay Sharma ? Ashwin Chandrasekaran Illia Bordun Stanislav Havryliuk Alex Bondar Sahil Dhingra Michael Graham Hamed Faqirzai Yasmeen Dahbour Amarildo Grembi Hemen Ashodia Apoorv G. Saurabh Singla Utsav DAR

It seems like everyone in crypto was in Singapore this week; check out Aaron Jacob’s takeaways.

We're thrilled to be the Cornerstone Sponsor of the Inaugural RegTech Forum in London ????! This trailblazing event brings together a who's who of the global regulatory landscape, featuring dynamic speakers and top-tier attendees shaping the future of digital assets and beyond! As we gear up for next month's Forum, get ready to connect with industry leaders, innovators, and visionaries pushing regulatory technology's boundaries. Join us in London for what is set to be a truly transformative event! https://regtechforum.org/ #RegTechForum

Asset Reality, the global authority on asset seizure, management, and disposal, and Taxbit, the leader in financial digital asset compliance solutions for enterprises and the public sector, are pleased to announce a new strategic partnership. Managing digital assets presents unique challenges that require both specialised knowledge and purpose-built tools. Through this partnership, Asset Reality and Taxbit will offer a comprehensive end-to-end solution to track, audit and report on seized asset portfolios across the entire forfeiture lifecycle. "Our collaboration with TaxBit sets a new standard in the industry," said Aidan Larkin co-founder and CEO of Asset Reality. "By integrating our comprehensive seized asset management tools with TaxBit's compliance and reporting capabilities, we deliver unparalleled support to our clients, helping them navigate the complexities of the digital asset landscape." Read more on our website ?? https://hubs.ly/Q02PsWqZ0 #SeizedAssets #CryptoCrime #DigitalAssetsSeizure #Partnership