The European Union has adopted rules for sharing of tax data on cryptocurrencies
European companies engaged in activities related to digital assets (referred to as "cryptocompanies") will be obliged to report their EU resident clients' crypto-assets to the tax authorities. This information will be shared automatically between EU tax authorities to detect and combat tax fraud and evasion.
The Directive on Administrative Cooperation in the field of taxation (DAC-8)
These regulations are outlined in the Directive on Administrative Cooperation in the field of taxation (DAC-8), which was adopted in addition to the Markets in Crypto Assets Regulation and the Transfer of Funds Regulation.
The significant aspect is that the Directive applies not only to 'classic' cryptocurrencies but also to various types of digital assets:
- Stablecoins
- NFTs,
- DeFi tokens,
- income from cryptostaking—placing cryptoassets on the blockchain network in exchange for interest.
The directive will enter into force 20 days after its publication in the Official Journal of the European Union. Simultaneously, new reporting requirements for crypto-assets will become effective from 1 January 2026. Consequently, tax authorities will be able to monitor and evaluate all transactions made by individuals or legal entities within the EU to combat money laundering, tax evasion, and other financial abuses.
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