Blockpit Strategically Acquires Accointing from Glassnode Amid Changes in EU Crypto Tax Laws
Blockpit, a European crypto compliance firm, has recently purchased Accointing, a crypto tax tracking platform, from blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. More analytics company Glassnode. This multimillion-dollar deal follows Glassnode’s acquisition of Accointing a year ago, aimed at creating an integrated portfolio tracking service. Blockpit sees a beneficial synergy in these enterprises.
Even though Accointing will phase out by the end of January next year, users can seamlessly migrate their data to Blockpit. Accointing users will also receive complimentary unlimited Blockpit licenses for all tax years before 2023, offering them a chance to enjoy Blockpit’s user-friendly platform and superior performance. With the recent acquisitions of Cryptotax, a German competitor, and now Accointing, Blockpit further strengthens its dominance in the Central European crypto tax market.
Blockpit’s purchase and strategic decisions are well-timed, considering the forthcoming implementation of crypto tax laws in the European Union. Notably, the Eighth Directive on Administrative Cooperation (DAC8) requires crypto companies to reveal customer holdings information. EU member states are projected to enforce these regulations by the end of 2025.
