TaxBit and KPMG LLP Announce Alliance to Assist Digital Asset Companies Amid Market and Regulatory Uncertainty

TaxBit and KPMG leverage their combined technology solutions and professional services expertise to help companies navigate the dynamic landscape, fuel innovation, and unlock the full potential of the digital asset industry.

NEW YORK, June 6, 2023 /PRNewswire/ -- TaxBit, a leading tax and accounting solution for the tokenized economy, today announced an alliance with Big Four audit, tax and advisory firm, KPMG LLP, to drive global expansion for digital asset companies, while also helping them navigate the constant challenges posed by regulatory uncertainty in the United States.  

The alliance will assist businesses engaging in the digital asset ecosystem in meeting their tax, accounting, information reporting, and accounting disclosure requirements. In the midst of the rising wave of crypto adoption and increased regulatory scrutiny, TaxBit's tax and accounting software designed for the Digital Economy stands out as a transformative solution and will enable companies to adhere to stringent auditing and information reporting requirements while simplifying the intricacies of digital asset accounting and tax responsibilities.

"Teaming together with TaxBit will allow us to combine our strengths to bring innovative tax and accounting solutions to our clients across the digital assets space," said Cyrus Daftary, Tax partner at KPMG LLP. "Leveraging our joint experience, resources and technology we will be able to drive greater value for our digital asset clients and deliver a best-in-class experience."

By leveraging the strengths of these two industry leaders, the alliance seeks to drive global expansion of the digital asset industry, empowering enterprises that are either considering or actively involved in the digital asset ecosystem with the necessary tools and professional expertise.

 Robert Guarnieri, TaxBit's Head of Ecosystems Growth and Partnerships, said, "We are thrilled to collaborate with KPMG on this transformative alliance that will redefine the landscape of digital asset taxation and accounting. TaxBit's advanced software solutions, combined with KPMG's global reach and expertise, will equip businesses with the tools and knowledge needed to navigate the complexities of the digital asset ecosystem and beyond."

About TaxBit

TaxBit is the leading tax and accounting solution for the digital asset class, designed by CPAs and tax attorneys. Its platform caters to top exchanges, businesses, governments, and individuals in the industry. TaxBit has secured over $230 million from leading global investors to automate regulatory tax and accounting compliance hurdles, paving the way for the widespread adoption of digital assets at scale. TaxBit is headquartered in Salt Lake City and Seattle.

For more information about TaxBit, please visit taxbit.com.

About KPMG LLP
KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax and advisory services. The KPMG global organization operates in 143 countries and territories and has more than 265,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do and a strong commitment to community service, inclusion and diversity, and eradicating childhood illiteracy. Learn more at www.kpmg.com/us.

Media contact: Michelle O'Connor, 801-332-9105, [email protected] 

SOURCE TaxBit