Comply Exchange and Ledgible have joined forces in a strategic partnership aimed at easing the burden of digital asset tax compliance.
Despite speculation that digital asset tax reporting might be relaxed, the rules remain firmly in place. Deadlines are approaching, and while penalties could be delayed, they have not been cancelled. For exchanges and brokers, this has created significant challenges in preparing for the reporting season.
The partnership looks to solve this by uniting Ledgible’s digital asset infrastructure with Comply Exchange’s tax compliance tools.
Ledgible provides technology for transaction tracking, balance reconciliation and cost-basis reporting, while Comply Exchange specialises in tax form collection and TIN verification. Together, they aim to offer businesses in the digital asset sector a streamlined solution for tax identity collection, reporting and compliance at scale.
Comply Exchange director of client services Jessica Zeltser said, “We’ve collaborated informally with the Ledgible team for quite some time, co-presenting at webinars and tackling the complexities and nuances of information reporting and withholding. Formalizing our partnership is a natural next step, and we’re excited to deepen the interconnectivity between our platforms to deliver smarter, more connected crypto compliance solutions.”
Ledgible CEO Kell Canty said, “Our partnership with Comply Exchange enables us to offer our customers and partners a more holistic approach to tax information reporting for digital assets. Through the interconnectivity of our solutions, we make going from tax compliance and verification, to data compilation and form filing easy at scale.”
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