The European Commission wants to take a tiny bite out of every crypto trade. An internal document circulated on May 30 proposes a 0.1% tax on crypto transactions across the EU, projected to generate between €3 billion and €4 billion per year.

What the Commission is actually proposing

The document lays out two possible approaches to taxing crypto assets. The first, and apparently preferred, option is the 0.1% transaction tax. The second is a capital-gains tax on crypto profits, which the Commission estimates would bring in a more modest €1 billion to €2.4 billion annually.

These aren’t standalone proposals. They’re part of a larger revenue package that bundles crypto taxes with levies on digital services…