On 17 October 2023, the European Union adopted DAC 8 to enhance cooperation between Member States in addressing challenges of the digital economy. DAC 8 extends automatic exchange of information to include crypto-assets transactions and expands rules on exchange of tax relevant information. It aligns with the OECD’s Crypto Asset Reporting Framework and the Markets in Crypto-Asset Regulation. DAC 8 imposes reporting obligations on Reporting Crypto-Asset Service Providers, requiring them to report information on themselves, EU resident users, and transactional information on reportable crypto-assets to the competent authority.
Source Zampa Debattista
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