AB's Crypto Tax Reporting Starts in January

European Union's Crypto Tax Reporting Directive

The European Union is moving to a new regulation that obliges crypto asset service providers to report user and transaction data in detail to national tax authorities starting from January 1st. This new regulation aims to close the tax reporting gaps in the crypto economy with the DAC8 rules and provide similar visibility as bank accounts and securities.

Crypto firms have until July 1st to comply with DAC8 reporting. Firms that do not make the required reports by this date may face various penalties.