- German Ministry of Finance opened consultation on draft bill for DAC8 Crypto-Asset Reporting Framework
- Measures in the bill include establishing reporting, due diligence, and registration obligations for crypto-asset service providers
- The bill defines reportable crypto-assets and expands the scope of AEOI under the common reporting standard
- A Jan. 1, 2027 deadline is set for fulfilling specific due diligence obligations for existing crypto-asset users
- Fines for noncompliance will be introduced
- Law would enter into force on Jan. 1, 2026
- Comments on the draft bill are due by Nov. 14
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
