"Starting Jan. 1, 2026, updated reporting obligations require crypto platforms operating in the EU or serving EU users to provide detailed information on users and their transactions to tax authorities. This change aligns digital assets more closely with the transparency requirements long established in conventional finance."
"The key legislation driving this shift is Council Directive (EU) 2023/2226, commonly known as DAC8. It expands the EU's existing framework for the automatic exchange of tax information to include crypto assets. Paired with the Markets in Crypto-Assets (MiCA) regulation, DAC8 represents a major step in regulating the crypto sector."
"For more than a decade, EU countries have used the Directive on Administrative Cooperation (DAC) to automatically share tax-related financial data across borders."
The European Union is implementing Council Directive (EU) 2023/2226, known as DAC8, to enhance cryptocurrency tax monitoring and reporting. Beginning January 1, 2026, crypto-asset service providers operating in or serving EU users must collect and report detailed information on users and their transactions to tax authorities in standardized formats. This framework does not introduce new taxes but expands transparency requirements to match those in conventional finance. Reported information will be automatically exchanged among EU tax authorities, reducing cross-border reporting gaps. The directive aligns with the OECD's global crypto reporting standard, ensuring compatibility with non-EU jurisdictions and closing tax compliance gaps that have existed as crypto adoption has grown.
#eu-crypto-tax-reporting #dac8-directive #tax-transparency #cryptocurrency-regulation #cross-border-tax-compliance
Read at Cointelegraph
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