{"id":81587,"date":"2023-11-07T06:06:24","date_gmt":"2023-11-07T11:06:24","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/blockpit-acquires-rival-tax-platform-accointing\/"},"modified":"2023-11-07T06:06:28","modified_gmt":"2023-11-07T11:06:28","slug":"blockpit-acquires-rival-tax-platform-accointing","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=81587","title":{"rendered":"Blockpit Acquires Rival Tax Platform Accointing"},"content":{"rendered":"<div>\n<figure id=\"attachment_127900\" aria-describedby=\"caption-attachment-127900\" style=\"width: 1600px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-127900\" class=\"wp-caption-text\">Source: Blockpit<\/figcaption><\/figure>\n<p>Blockpit, an Austria-based crypto tax service provider, has acquired its rival platform Accointing from the crypto data company Glassnode. This acquisition positions Blockpit to align with the upcoming EU tax regulations, known as the Eighth Directive on Administrative Cooperation (DAC8).<\/p>\n<p>According to Blockpit, they completed the acquisition as a \u201cmulti-million-dollar\u201d deal, all cash and no share swap. Blockpit CEO Florian Wimmer said the deal was \u201call financed via debt through our shareholders.\u201d<\/p>\n<p>The on-chain market intelligence service provider Glassnode acquired Accointing in October, 2022 with an undisclosed amount and terms.<\/p>\n<p>Blockpit\u2019s acquisition of Accointing is a key step to provide enhanced tax reporting services as a prominent platform in Europe. \u201cThis deal marks a significant milestone in our mission to deliver top-tier tax solutions to crypto users across Europe,\u201d said Wimmer.<\/p>\n<h2>EU\u2019s New DAC8 Crypto Tax Regulations on the Horizon<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>Wimmer\u2019s statement remarked the company\u2019s readiness to adapt to the upcoming regulatory changes: \u201cAccointing\u2019s integration into Blockpit is a leap forward in our preparation for DAC8, ensuring our users a seamless transition to the new tax reporting standards.\u201d<\/p>\n<p>The European Parliament voted in favor of DAC8 on September 13, 2023. DAC8 issues new guidelines for crypto-asset service providers (CASPs) to report certain information about their clients\u2019 transactions to the tax authorities of the EU member states<\/p>\n<p>On October 17, the EU adopted the Eighth Directive on Administrative Cooperation (DAC8) and set to enforce it in 2024. In the future, EU member states will have until December 31, 2025, to implement these rules before they officially come into effect on January 1, 2026.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/blockpit-acquires-rival-tax-platform-accointing-to-improve-eu-crypto-tax-services.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Blockpit Blockpit, an Austria-based crypto tax service provider, has acquired its rival platform Accointing from the crypto data company Glassnode. This acquisition positions Blockpit to align with the upcoming EU tax regulations, known as the Eighth Directive on Administrative Cooperation (DAC8). According to Blockpit, they completed the acquisition as a \u201cmulti-million-dollar\u201d deal, all cash [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":81588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-81587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blockpit Acquires Rival Tax Platform Accointing | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Blockpit Blockpit, an Austria-based crypto tax service provider, has acquired its rival platform Accointing from the crypto data company\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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