The EU's new tax transparency regulation DAC8 will officially take effect on January 1, 2026, requiring all cryptocurrency service providers (including exchanges and brokers) to report detailed user and transaction data to national tax authorities. This directive operates in parallel with the MiCA regulatory framework and aims to eliminate tax loopholes in the crypto economy.
Cryptocurrency businesses must complete compliance adjustments by July 1, 2026, or face penalties for delays. It is worth noting that this regulation grants tax authorities the power for cross-border cooperation, allowing them to freeze or seize relevant cryptocurrency assets when tax evasion is detected, even if those assets are outside the jurisdiction of the user's home country. $BTC
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