The EU warns 12 member states for not implementing crypto tax rules

BlockBeats News, February 2 — According to Crowdfund Insider, the European Commission has stepped up enforcement of its regulatory framework for crypto assets, initiating infringement procedures against multiple member states for failure to implement or comply with the new EU rules on crypto asset taxation and markets.

In the latest batch of infringement decisions, the European Commission announced that it has sent formal notices to 12 member states because these countries failed to fully transpose EU rules on crypto asset tax transparency and information exchange 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 Directive (EU) 2023/2226. The directive amends the EU’s longstanding tax administrative cooperation framework, extending reporting and information sharing obligations to crypto asset service providers to enhance tax transparency and regulation of crypto asset transactions.