🤔🥺 DAC8
Imagine you have a magic piggy bank where you put special coins called cryptos 💰. Before, no one really knew how much you had put in this magic piggy bank. Now, the European Union has created a new rule called DAC8.
And what does DAC8 do?
DAC8 simply says: “If you use a platform (an app) to buy or sell cryptos, the platform must tell the country where you live what you have done.”
It’s like if your teacher said: “If you give candies at the cafeteria and receive some back, the cafeteria must tell me.”
And you, what do you have to do?
Almost nothing.
The information is sent automatically to the country. You don’t have to do anything special.
If you keep your cryptos in your own little bag (your personal wallet), then no one sees what you are doing inside your piggy bank, but if one day you make money by selling them, you just need to mention it in your declaration.
It’s like you have a piggy bank at home:
➡️ No one looks inside,
➡️ but if you empty it and buy a bike with the coins, your parents must know.
🧸 The most important thing to remember
DAC8 "does not spy on you", "does not take your money", "just asks the apps to tell what you do when you buy or sell cryptos".
"You just have to be honest if you make money."
"No panic, no danger, nothing serious.
It’s just a rule to keep everything transparent."
