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<p style="text-align: justify"><a href="https://en.coin-turk.com/impact-of-us-data-on-bitcoin-latest-developments-in-the-cryptocurrency-market/" data-wpel-link="internal">Cryptocurrency</a> data software provider Blockpit has announced the acquisition of its competitor Accointing from Blockchain data analysis platform Glassnode in a multi-million dollar deal. The agreement comes ahead of the implementation of new cryptocurrency tax laws known as DAC8 in the European Union (EU).</p> 
<h2 style="text-align: justify" id="strong-transition-from-blockpit-to-accointing-at-glassnode-strong"><strong>Transition from Blockpit to Accointing at Glassnode</strong></h2> 
<p style="text-align: justify">Austrian-based cryptocurrency tax software provider Blockpit has acquired its rival Accointing from Blockchain data analysis platform Glassnode in a multi-million dollar deal. According to Blockpit, the acquisition of Accointing was made in exchange for an undisclosed amount announced in October 2022 from Glassnode. Blockpit CEO Florian Wimmer stated that the deal was executed in cash without any share exchange, saying “It was financed through borrowing facilitated by all of our shareholders.”</p> 
<p><img decoding="async" class="aligncenter size-full wp-image-274113" src="https://coin-turk.com/wp-content/uploads/2023/11/Kripto-para-vergisi.jpeg" alt="" width="1280" height="720"></p> 
<p style="text-align: justify">The acquisition took place prior to the new cryptocurrency tax laws in the United States. Last month, the European Parliament adopted the new crypto rules known as the Eighth Administrative Cooperation Directive (DAC8). These rules require crypto companies to report customer asset information that will be automatically shared between tax authorities. Member states of the EU have until December 31, 2025, to implement the rules before they officially come into effect on January 1, 2026.</p> 
<p style="text-align: justify">DAC8 covers a wide range of digital assets, including stablecoins, NFTs, decentralized <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">finance</a> (DeFi) altcoins, and income from crypto stake transactions. The rules align closely with the European Union’s Markets in <a href="https://en.coin-turk.com/artificial-intelligence-trap-for-binance-changpeng-zhao-became-the-last-victim-of-chatgpt/" data-wpel-link="internal">Crypto</a>-assets Regulation (MiCA) and the Organization for Economic Cooperation and Development’s (OECD) Crypto Asset Reporting Framework (CARF).</p> 
<h2 style="text-align: justify" id="strong-increasing-tax-transparency-for-cryptocurrencies-in-europe-strong"><strong>Increasing Tax Transparency for Cryptocurrencies in Europe</strong></h2> 
<p style="text-align: justify">Max Bernt, the Chief Legal Officer of Blockpit, stated, “DAC8 in the EU and CARF on a global scale have led to a paradigm shift in crypto tax reporting; tax reporting obligations will now apply not only to individuals but also to service providers.” Bernt also added, “The sharing of data on crypto investors and their transactions with tax authorities significantly increases tax transparency. Therefore, it is not surprising that the topic of crypto taxes is becoming increasingly important in the public eye and now ranks alongside AML/CFT and sanctions in terms of its significance.”</p> 
<p style="text-align: justify">Blockpit, founded in 2017, previously acquired another competitor, Cryptotax, for an undisclosed amount in 2020. Wimmer stated that the acquisition of Accointing is a larger deal compared to Cryptotax. According to Wimmer, the acquisition positions Blockpit as a significant player in the crypto tax sector in Europe, alongside TaxBit and CoinTracker in the United States.</p> Continue Reading: <a href="https://en.coin-turk.com/blockpit-acquires-accointing-from-glassnode-in-multi-million-dollar-deal/" data-wpel-link="internal">https://en.coin-turk.com/blockpit-acquires-accointing-from-glassnode-in-multi-million-dollar-deal/</a>

Blockpit Acquires Accointing from Glassnode in Multi-Million Dollar Deal

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