The EU warns that 12 member states have not implemented cryptocurrency tax rules

The European Commission has intensified enforcement of the regulatory framework for crypto assets, initiating infringement procedures against several member states for failing to implement or comply with the new EU tax and market rules for crypto assets. In the latest batch of infringement decisions, the European Commission stated that it has sent formal notification letters to 12 member states because these countries have failed to fully transpose the EU rules on tax transparency and information exchange regarding crypto assets into their national laws.

The 12 countries are: Belgium, Bulgaria, Czech Republic, Estonia, Greece, Spain, Cyprus, Luxembourg, Malta, the Netherlands, Poland, and Portugal. This action involves the EU Directive (EU) 2023/2226. This directive amends the long-standing EU framework for tax administrative cooperation, extending reporting and information-sharing obligations to crypto asset service providers to enhance tax transparency and regulation of crypto asset transactions.