The European Union has announced DAC8, a regulation designed to tighten crypto tax transparency by mandating the automatic exchange of crypto asset information among member states. The framework expands beyond traditional crypto holdings to include stablecoins, e-money tokens, and certain NFTs, addressing the difficulty of monitoring decentralized assets.
The initial reporting deadline is September 30, 2027, and RCASP must collect data on non-resident investors and submit it to their home tax authorities. Information must be exchanged within nine months of the reporting year.
DAC8 operates independently of the existing MICA regime. While MICA governs licensing, consumer protection, and a single market for crypto companies, DAC8 focuses on providing data so tax authorities can assess and enforce tax obligations. In addition, DAC8 covers not only crypto assets defined by MICA but also stablecoins, e-money tokens, and certain NFTs.
From January 1, 2026, crypto firms will have a transition period to comply. The regulation aims to close gaps created by the distributed nature of crypto assets and enable enhanced cross-border tax cooperation among EU member states.
Leave a Reply