Today, we officially launched Taxbit's Asia Pacific operations, anchored in Singapore.
This formalizes work already underway with clients across the region. For many of them, APAC obligations are one part of a broader regulatory reporting map that already includes other regions like the US, Europe, or both.
We’re expanding in APAC because regulatory reporting should be seamless, and today it is anything but. Taxbit replaces fragmented, manual compliance work with infrastructure that makes reporting a byproduct of doing business, not a burden on it.
APAC is home to many of the world's largest Crypto-Asset Service Providers, as well as a payments and e-money sector operating at similar scale.
CARF and CRS 2.0 affect both.
CARF captures crypto-asset transactions. CRS 2.0 extends further-money issuers holding specified electronic money products or central bank digital currencies are now treated as depository institutions. It also reaches firms with indirect crypto exposure, including derivatives tied to crypto-assets and investment vehicles that hold them.
Many of these firms have had little to no related information reporting obligation until now. Some may not realize they are in scope, too.
These regimes introduce new operational responsibilities:
No one has been through a full digital asset reporting cycle under CARF and CRS 2.0 yet. But Taxbit has successfully delivered to many of the largest CASPs and financial institutions through the closest thing that exists: US domestic reporting under 1099-DA.
That work has required customer tax documentation at onboarding, TIN validation, digital asset cost-basis tracking, backup withholding, and high-volume filing against a hard deadline. The CARF-specific due diligence is new to everyone. The operational spine underneath it isn't new to us.
In the US, we saw a clear divide in the first filing year. The organizations that prepared early made it routine and made the process manageable. The ones that waited had to pull engineers off roadmap work to clean up data late, and go back to customers repeatedly for information they should have collected at onboarding.
The difference wasn't effort. It was preparation.
Taxbit automates the full reporting lifecycle, not just the report at the end of it. The lifecycle is the same whichever regime you file under. Under CARF and CRS 2.0 specifically, Taxbit enables you to:
Collect and validate self-certifications from your customers, with due diligence built in. Both CARF and CRS 2.0 require more than TIN-syntax validation checks. Self-certification must be tested for reasonableness against the AML and KYC record you already hold.
Ingest and harmonize customer and transaction data across the scope of both regimes in a seamless manner, including exchange transactions and transfers of relevant crypto-assets under CARF, as well as the accounts CRS 2.0 brings into scope, including stablecoins and central bank digital currencies.
Determine reporting eligibility for every end user across jurisdictions so your team can see at a glance whether a user is in scope, which regime applies, and where obligations overlap.
Run the ongoing obligations, including the: change-in-circumstance monitoring, re-certification when a self-certification is no longer reliable while maintaining a defensible audit trail across both regimes.
Generate compliant reports across 70+ jurisdictions from a single platform, including CARF transaction-level reporting, CRS 2.0 account-level reporting, and domestic reporting requirements where applicable.
We describe this as services-as-software: expertise built into the product. Work that has been historically purchased as advice, delivered in memos, and executed by hand runs inside the platform.
That’s how Taxbit has become reporting infrastructure for many of the largest businesses in the digital asset economy.
August 12, Singapore: We're jointly presenting a Tax Academy session on digital asset reporting with the Inland Revenue Authority of Singapore, bringing regulators and industry into the same room ahead of implementation.
October 7 - 8, Singapore: Find us at TOKEN2049 Singapore.
December 7 - 10, Abu Dhabi Finance Week: We're convening regulators and industry as the UAE builds out one of the world's most distinctive digital asset supervisory regimes.
2027 is the OECD deadline. If your business touches US customers, the clock started earlier than that.
Either way, the work belongs on this year's calendar, and our APAC team is on the ground now.