CDS Crypto News Austrian Crypto Tax Software Provider Blockpit Acquires Accointing in Multi-Million Dollar Deal Ahead of New EU Crypto Tax Laws
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Austrian Crypto Tax Software Provider Blockpit Acquires Accointing in Multi-Million Dollar Deal Ahead of New EU Crypto Tax Laws

Blockpit, an Austria-based provider of crypto tax software, has completed its second acquisition by purchasing Accointing in a "multi-million-dollar" transaction.

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Austrian Crypto Tax Software Provider Blockpit Acquires Accointing In Multi-Million Dollar Deal Ahead Of New Eu Crypto Tax Laws

Austrian Crypto Tax Software Provider Blockpit Acquires Accointing in Multi-Million Dollar Deal Ahead of New EU Crypto Tax Laws

Crypto News – Blockpit, an Austria-based provider of crypto tax software, has completed its second acquisition by purchasing Accointing in a “multi-million-dollar” transaction.

Blockpit acquired Accointing from Glassnode, which had initially acquired it in October 2022 for an undisclosed amount. The transaction was conducted entirely in cash, with no stock exchange involved, as confirmed by Florian Wimmer, CEO of Blockpit. This acquisition was financed through debt provided by Blockpit’s shareholders.

This move precedes the implementation of new crypto tax regulations in the European Union. Recently, the European Parliament passed these new regulations, known as the Eighth Directive on Administrative Cooperation (DAC8). Under these rules, crypto companies are required to report customer holdings information, which will be automatically shared with tax authorities. EU member states have until December 31, 2025, to adopt these rules before they officially become effective on January 1, 2026.

Austrian Crypto Tax Software Provider Blockpit Acquires Accointing In Multi-Million Dollar Deal Ahead Of New Eu Crypto Tax Laws

DAC8 encompasses a wide range of digital assets, including stablecoins, non-fungible tokens (NFTs), decentralized finance (DeFi) tokens, and earnings from crypto staking. These rules complement the EU’s Markets in Crypto Assets Regulation (MiCA) and closely align with the Organisation for Economic Cooperation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF).

This development enhances tax transparency significantly. Max Bernt, Chief Legal Officer at Blockpit, stated, “DAC8 in the EU and CARF on a global scale bring about a paradigm shift in crypto tax reporting: from now on, tax reporting obligations no longer lie solely with individuals, but also with service providers. This considerably increases tax transparency, as data on crypto traders and their transactions will be shared with tax authorities. It is, therefore, not surprising that the topic of crypto taxes is becoming more and more important in the public eye and now ranks alongside AML/CFT and Sanctions in terms of its significance.”

Blockpit, established in 2017, had previously acquired Cryptotax in 2020 for an undisclosed sum. However, in terms of the size of the deal, the acquisition of Accointing is significantly larger, as noted by Wimmer.

With the acquisition of Accointing, Blockpit positions itself as a major player in the European crypto tax landscape, alongside TaxBit and CoinTracker in the United States, according to Wimmer.

Austrian Crypto Tax Software Provider Blockpit Acquires Accointing In Multi-Million Dollar Deal Ahead Of New Eu Crypto Tax Laws
Sources:The Block

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