Crypto Regulation News: Greece proposes to tax 10% of crypto earnings and set a 500 euro tax exempti

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Cryptocurrency Regulation News: Greece proposes a 10% tax rate to exempt annual earnings up to 500 euros.

The portion of annual cryptocurrency earnings within 500 euros will remain tax-free. Parliament is expected to consider the draft in November. Greece has proposed a 10% tax on personal cryptocurrency capital gains, aiming to establish a dedicated digital asset tax framework. The draft stipulates that profits up to 500 euros per year will not be taxed and is currently in the public consultation stage. The proposal is a reduction from the 15% tax rate discussed earlier this year. However, Greece's cryptocurrency tax remains only draft legislation and may still be revised before it is approved by lawmakers.

Cryptocurrency Regulation News: Greece weighs 10% tax rate versus 500 euro exemption

Cryptocurrency Regulation News will also depend on how lawmakers define taxable events and investor reporting obligations. According to Reuters, the draft imposes a 10% tax on cryptocurrency capital gains and exemptions up to 500 euros in annual gains. The previous 15% plan also included the same € 500 tax exemption. The report said it did not explain the reasons for the proposed tax rate change.

Cryptocurrency Regulation News-Greece proposes new cryptocurrency tax framework| Source: X

It is unclear how losses will offset gains, how assets will be valued, and which transfers will be considered taxable disposals. Final regulations must also explain how € 500 is calculated, how early holdings of assets will be treated and the records investors must keep. The public consultation period provides officials with the opportunity to resolve these issues before lawmakers review the bill. This may lead to taxpayers needing to obtain exchange records to accurately calculate annual earnings across multiple platforms.

This is still a proposal, not an implemented tax law. November parliamentary review could change tax rates, exemptions or scope of application. For now, investors should not regard this draft as the final law. As far as cryptocurrency taxation is concerned, Greece has not detailed the reporting steps. The key to cryptocurrency regulatory news is whether lawmakers retain tax exemptions and clarify the definition of taxable disposals.

DAC8 increases data reporting requirements, while tax rates are still determined independently by each country

This uncertainty comes in the context of the first year of EU cryptocurrency reporting rules. DAC8 will take effect on January 1, 2026. It requires regulated cryptocurrency service providers to collect and report transaction information from EU residents to tax authorities. Tax authorities plan to exchange data for the first year before September 2027. EU rules cover domestic and cross-border activities through reporting providers.

DAC8 does not set a uniform capital gains tax rate; member states retain control over its tax rules. Reuters pointed out that the capital gains tax rate of cryptocurrencies in European countries ranges from 8% to 30%. Cryptocurrency regulatory news also reflects the broader reporting network, although tax rates remain determined independently by countries.

Cryptocurrency regulation covers different European reporting rules

The French Council of State rejected an emergency request in September to suspend its DAC8 decree. The ruling only dealt with issues of urgency and did not rule on the substance of the main challenge. Spain clarified that when taxpayers retain private keys, self-custodial positions are not covered by Form 721. However, regulated service providers can still report transactions involving these wallets under DAC8.

UK data provides another measure. UK Revenue and Customs said that in 2024-25, 17,600 taxpayers declared £ 1.38 billion of taxable cryptocurrency gains. Among them, 240 investors each declared more than £ 1 million, totaling £ 717 million. British authorities are expected to receive cryptocurrency customer data in 2027 in accordance with international rules.

Greece's cryptocurrency regulation will be tested as to whether the final law can clarify reporting requirements for local and foreign service users. Greek officials said it was difficult to measure the size of the market because most investors used overseas platforms. The government has not yet released revenue estimates for the proposal.