Building Web3

Master Crypto Taxes with Blockpit: Web3 Tax Reporting, Portfolio Tracking, and Regulatory Compliance

July 29, 2024 Jax Dwyer
Master Crypto Taxes with Blockpit: Web3 Tax Reporting, Portfolio Tracking, and Regulatory Compliance
Building Web3
More Info
Building Web3
Master Crypto Taxes with Blockpit: Web3 Tax Reporting, Portfolio Tracking, and Regulatory Compliance
Jul 29, 2024
Jax Dwyer

In this episode of the Building Web3 podcast, Jax Dwyer sits down with Florian, the founder and CEO of Blockpit, to dive deep into the complexities of crypto taxes, portfolio tracking, and regulatory compliance. Florian shares his journey from being a software engineer to founding Blockpit, a top crypto tax reporting software company. He reveals his early days at KPMG, his first encounter with Bitcoin in 2015, and the pivotal moments that led him to create Blockpit.

Work with us: http://buildingweb3.xyz/

Florian discusses how Blockpit simplifies tax reporting and portfolio management for crypto enthusiasts across multiple jurisdictions, including the US and Europe. The platform integrates with exchanges and wallets, providing real-time tax figures and tax optimization potential. Florian explains the challenges they faced in data aggregation from exchanges and blockchains, translating this data into human-readable, accounting-ready formats, and the nuances of different tax laws across countries.

The conversation delves into the upcoming regulations like CARF and DAC8, expected to bring significant changes to the crypto landscape in 2026. Florian elaborates on how these regulations will enforce information exchange of crypto data among 48 countries, including the US, Europe, and major Asian countries. He highlights the low compliance rates in crypto tax reporting and anticipates how these new regulations will drive higher compliance and enforcement.

Florian also shares valuable insights for aspiring founders looking to enter the Web3 space. He emphasizes the importance of understanding the market, making early mistakes, and learning from them. He advises on the need for a strong passion for Web3, finding the right talent, and navigating the volatile crypto market. He reflects on the challenges of marketing, hiring, and raising funds in the Web3 environment, offering practical advice for new entrepreneurs.

The discussion touches on Blockpit's notable partnerships with major exchanges like Bitpanda, Ledger, and Bitvavo, and their efforts to expand into traditional finance providers such as banks offering Bitcoin spot trading. Florian reveals exciting upcoming features, including a new tax optimization tool that allows users to simulate different strategies for minimizing tax liabilities, and enhanced portfolio monitoring features.

Throughout the episode, Florian's dedication to compliance and regulatory standards shines through, highlighting Blockpit's commitment to providing a robust solution for crypto tax compliance. This episode is packed with insights into the world of Web3, the evolving regulatory landscape, and practical advice for building a successful startup in the crypto space. Don't miss out on Florian's expert advice and the latest developments at Blockpit. Like, subscribe, and hit the notification bell for more insights into the world of Web3 and crypto!

web3, crypto taxes, Blockpit, tax reporting, portfolio tracking, regulations, partnerships, milestones, developments, CARF, DAC8, crypto compliance, crypto tax software, decentralized finance, crypto regulations, blockchain data, crypto portfolio management, crypto tax optimization, Web3 startups, crypto market volatility, crypto tax enforcement, community-driven crypto solutions, crypto data aggregation.

Show Notes

In this episode of the Building Web3 podcast, Jax Dwyer sits down with Florian, the founder and CEO of Blockpit, to dive deep into the complexities of crypto taxes, portfolio tracking, and regulatory compliance. Florian shares his journey from being a software engineer to founding Blockpit, a top crypto tax reporting software company. He reveals his early days at KPMG, his first encounter with Bitcoin in 2015, and the pivotal moments that led him to create Blockpit.

Work with us: http://buildingweb3.xyz/

Florian discusses how Blockpit simplifies tax reporting and portfolio management for crypto enthusiasts across multiple jurisdictions, including the US and Europe. The platform integrates with exchanges and wallets, providing real-time tax figures and tax optimization potential. Florian explains the challenges they faced in data aggregation from exchanges and blockchains, translating this data into human-readable, accounting-ready formats, and the nuances of different tax laws across countries.

The conversation delves into the upcoming regulations like CARF and DAC8, expected to bring significant changes to the crypto landscape in 2026. Florian elaborates on how these regulations will enforce information exchange of crypto data among 48 countries, including the US, Europe, and major Asian countries. He highlights the low compliance rates in crypto tax reporting and anticipates how these new regulations will drive higher compliance and enforcement.

Florian also shares valuable insights for aspiring founders looking to enter the Web3 space. He emphasizes the importance of understanding the market, making early mistakes, and learning from them. He advises on the need for a strong passion for Web3, finding the right talent, and navigating the volatile crypto market. He reflects on the challenges of marketing, hiring, and raising funds in the Web3 environment, offering practical advice for new entrepreneurs.

The discussion touches on Blockpit's notable partnerships with major exchanges like Bitpanda, Ledger, and Bitvavo, and their efforts to expand into traditional finance providers such as banks offering Bitcoin spot trading. Florian reveals exciting upcoming features, including a new tax optimization tool that allows users to simulate different strategies for minimizing tax liabilities, and enhanced portfolio monitoring features.

Throughout the episode, Florian's dedication to compliance and regulatory standards shines through, highlighting Blockpit's commitment to providing a robust solution for crypto tax compliance. This episode is packed with insights into the world of Web3, the evolving regulatory landscape, and practical advice for building a successful startup in the crypto space. Don't miss out on Florian's expert advice and the latest developments at Blockpit. Like, subscribe, and hit the notification bell for more insights into the world of Web3 and crypto!

web3, crypto taxes, Blockpit, tax reporting, portfolio tracking, regulations, partnerships, milestones, developments, CARF, DAC8, crypto compliance, crypto tax software, decentralized finance, crypto regulations, blockchain data, crypto portfolio management, crypto tax optimization, Web3 startups, crypto market volatility, crypto tax enforcement, community-driven crypto solutions, crypto data aggregation.