The Netherlands launched a consultation on a bill that would require crypto services to share their users' data with tax authorities, aiming for increased transparency.
"In the future, EU member states will be able to cooperate better thanks to the exchange of data and transactions with cryptos, which will become transparent to tax authorities," stated Folkert Idsinga.
The aim of the bill is to create more transparency to prevent tax avoidance and evasion, highlighting the government's commitment to tackling financial discrepancies.
Countries like the U.K. and New Zealand are also implementing tax reporting frameworks, emphasizing a global shift towards transparency in crypto-related taxation.
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