EU crypto tax reporting rules take effect in January
Exchanges and brokers have until 1 July to comply with reporting requirements or risk penalties under national law.
The European Union’s new tax-reporting directive for crypto assets, known as DAC8, takes effect on 1 January. The rules require crypto-asset service providers, including exchanges and brokers, to report detailed user and transaction data to national tax authorities.
DAC8 aims to close gaps in crypto tax reporting, giving authorities visibility over holdings and transfers similar to that of bank accounts and securities. Data collected under the directive will be shared across EU member states, enabling a more coordinated approach to enforcement.
Crypto firms have until 1 July to…
