EU issues notice to 12 countries urging implementation of crypto tax rules

The European Commission has sent formal notification letters to Belgium, Bulgaria, Czech Republic, Estonia, Greece, Spain, Cyprus, Luxembourg, Malta, Netherlands, Poland, and Portugal, as these countries have failed to fully translate the tax transparency and information exchange rules related to encrypted assets under EU Directive (EU) 2023/2226 into their domestic laws. The directive revised the tax administrative cooperation framework, requiring encrypted asset service providers to fulfill their declaration and information sharing obligations to strengthen tax supervision.