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What does dac8 mean for crypto-assets?

Most notably, DAC8 introduces tax information reporting and exchange for crypto-assets, but it also introduces other rules to expand cooperation between Member States' authorities. On 17 October 2023, the Council of the European Union (the Council) unanimously adopted the revised DAC8.

Should DAC be expanded to crypto-assets?

In its Action Plan for fair and simple taxation supporting recovery, the Commission identified the need to further expand the Directive on Administrative Cooperation (2011/16) (DAC) to crypto-assets.

What does dac8 mean for crypto-assets and e-money?

Crypto-assets and e-money: extending the EU tax transparency rules to cover crypto-assets and e-money. DAC8 would apply to all crypto-assets service providers (CASPs) proving a service in the EU, irrespective whether they are regulated under Markets in crypto-assets (MiCA) Regulation 2 or not.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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