Get Compliant the Right Way — Fast
See how quickly your exchange can get up and running with Sovos.
Request a demo and explore a smarter way to handle crypto tax reporting.
Crypto Tax Reporting Done Right, Without the High Cost or Complexity
Compliance just got real for crypto exchanges and getting it wrong is expensive. Sovos makes it easy to stay ahead of IRS, state and global reporting requirements for sales of digital assets with a cost-effective platform backed by four decades of reporting experience. Plug in fast with a $0 implementation fee and tools built to keep you out of trouble.
Sovos helps exchanges:
- Collect and validate electronic W-9/W-8 data and perform TIN validation to reduce errors.
- Manage full cost basis tracking and reporting for all transactions
- Deliver one clear, combined tax statement per customer
- File 1099-DA forms with the IRS through IRIS
- Stay ahead of evolving state 1099-DA reporting and upcoming CARF requirements across non-U.S. jurisdictions
Why Leading Exchanges Choose Sovos
A proven, cost-effective reporting platform built for crypto scale and real regulatory demands.
Cost-effective and built for scale
With decades of experience filing hundreds of millions of tax forms, Sovos understands how regulators expect reporting to work—down to the operational details. That experience translates into fewer errors, smoother filings, and a partner who knows how to turn complex rules into repeatable processes.
Nearly 40 years of proven expertise
With decades of experience filing hundreds of millions of forms, Sovos knows exactly how regulators expect digital asset reporting to work. You get a partner who understands the rules and how to operationalize them.
Protects your customer experience
Clear, accurate tax statements help users understand their crypto activity without confusion. Sovos brings traditional brokerage-level clarity to digital assets, reducing support tickets and building trust with your users.
Unified reporting for every requirement
1099-DA, W-8/W-9, cost basis, withholding, CARF, and traditional 1099 reporting are managed through an interconnected, end-to-end workflow. This streamlined approach removes manual handoffs, improves data consistency, and creates a scalable reporting foundation as volumes, asset types, and regulations evolve.
Performance engineered for crypto volumes
With IRS requirements driving transaction-level reporting, Sovos processes over 1 million digital asset transactions per minute, including crypto, NFTs, and stablecoins, so you can meet deadlines without delays or bottlenecks.
File with an experienced IRIS provider
As an early adopter of IRIS and an active participant in IRS industry feedback since 2021, Sovos ensures seamless, compliant application-to-application filings through the IRS’ new 1099 system. Our early adoption and hands-on IRIS experience provide proven expertise in filing 1099 returns through the new platform.