Blockpit Acquires Accointing
Prominent blockchain analytic platform Glassnode has sold Accointing to the European crypto compliance provider Blockpit, marking its exit from the crypto tax-related projects space. Blockpit finds the similarity between these businesses particularly attractive.
About a year ago, Glassnode acquired Accointing.com, a crypto tax and portfolio tracking platform, with the intention of offering users of both platforms a consolidated portfolio tracking solution after integrating Accointing.com.
Blockpit has taken over the company in a deal estimated to be worth “multi-million dollars,” aiming to play a pivotal role in shaping the future of the European Crypto Tax Compliance landscape. Although the Accointing.com platform will be discontinued at the end of January next year, the process for its users to transfer their data to a Blockpit account is straightforward and can be accomplished with just a few clicks.
Furthermore, Accointing users will be entitled to free Blockpit unlimited licenses for all tax years before 2023. This approach aims to provide everyone with an opportunity to experience Blockpit’s streamlined user interface and performance and develop an affinity for its platform. This merger is also expected to strengthen Europe’s position in the crypto tax landscape.
Florian Wimmer’s Insights on DAC8
Weighing on the development, Florian Wimmer, CEO and co-founder of Blockpit, stated that this opportunity emerged at just the right time as it is strategically timed in anticipation of upcoming crypto tax regulations in the European Union. Last month, the European Parliament approved a set of fresh regulations referred to as the Eighth Directive on Administrative Cooperation (DAC8). These regulations require cryptocurrency firms to disclose customer holdings data, which will be automatically exchanged among tax authorities.
Hot Take
This acquisition marks an important strategic move by Blockpit to solidify its position in shaping the future of European Crypto Tax Compliance landscape amidst upcoming regulatory changes.
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