EU Adopts New Crypto Tax Reporting Rules to Prevent Offshore Tax Evasion

EU finance ministers formally adopt new rules allowing tax authorities to share individuals' crypto holdings data

Rules will be published in EU's Official Journal and take effect 20 days later

Proposed last year to prevent assets being hidden overseas using crypto

Extend existing law to cover wide range of digital assets including stablecoins, NFTs, DeFi tokens, staking proceeds

Force crypto companies to report customer holdings data that will be shared between EU tax authorities