Greece is preparing legislation that would impose a 10% capital gains tax on cryptocurrencies, according to a draft bill published for public consultation late on Thursday.

A first framework for crypto taxes

The country currently has no comprehensive legal framework for taxing cryptocurrencies.

The European Union doesn’t offer one either, as member states have no unified taxation system for the sector and each country sets its own rules.

The draft was released for public consultation, giving the public a window to weigh in before the proposal moves to lawmakers.

Small gains stay tax-free

Under the draft, crypto capital gains of up to €500 (about $560) per year would be exempt from the new tax.

That…