As the European Union (EU) continues to tighten regulations on the cryptocurrency world, Austria-based crypto tax reporting platform Blockpit has acquired its competitor Accointing in a major deal. This acquisition was carried out by the company Glassnode.
Blockpit’s second major purchase, the Accointing transaction, was initially conducted by Glassnode in October 2022 for an undisclosed sum. According to statements made by Blockpit CEO Florian Wimmer to the financial sector magazine The Block, the acquisition was made entirely in cash without any stock swaps, and it was supported by debt financing provided by the company’s shareholders.
EU’s New Crypto Tax Laws
The Administrative Cooperation Directive, known as the Eighth Directive and adopted by the EU Parliament last month, compels crypto companies to automatically share information about customer assets with tax authorities. EU member states are instructed to implement these rules by December 31, 2025, and to put them into effect as of January 1, 2026.