CoinVoice has learned that the EU's latest directive on tax transparency for digital assets will take effect on January 1st, officially incorporating cryptocurrency activities into the EU's tax reporting system. This directive, named DAC8, requires cryptocurrency service providers to collect and report detailed information on users and transactions to national tax authorities, which will then share this data among EU member states. This reform addresses long-standing gaps, as certain parts of the crypto economy were previously subject to less scrutiny than traditional financial accounts. Under DAC8, tax authorities can regulate the holding, trading, and transfer of cryptocurrencies with the same transparency as bank accounts. Exchanges, brokers, and other crypto service providers must now treat tax reporting as a core operational requirement rather than a secondary compliance matter. Although this directive takes effect on January 1st, businesses have a limited transition period to adjust their systems before enforcement begins. [Original link]
