Tax Reporting is Changing at BTC Markets

Jun 16th 2022

Following extensive customer engagement and feedback, we are changing our tax reporting service ahead of the 2021-2022 tax year end. We believe the changes will better assist customers to complete their crypto tax obligations faster and more accurately.

What's changing?

  1. From 1st July 2022, BTC Markets tax reporting will no longer provide Estimated Taxable Event (estimated capital gains/loss or estimated taxable income) reporting, but will continue to provide wallet balance snapshots and transaction history data for each tax year.
  2. Our customers are already able to integrate with most crypto tax tools. For BTC Markets customers looking to engage a paid crypto tax service to assist with their computations, we will be providing discount links to some of the most highly regarded tax professionals in market.

Why is tax reporting changing?

At BTC Markets, we only want the best for our customers; that includes always ensuring optimal tax reporting and support.

As the crypto market has continued to evolve, so too has the complexity of crypto tax requirements and our customer’s needs. That's why we think it's best to leave it to the tax professionals who can ensure your tax reports are complete, accurate and adhering to the latest tax legislation.

What's staying the same?

All customers will still be able to download transaction reports and year end wallet balance reports.

These changes will ensure you receive the most accurate crypto tax information. If you have any questions, please reach out to our support team.

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