Greece Plans to Introduce a Cryptocurrency Tax Framework – Here is When

The Greek government is gearing up to introduce a tax framework for cryptocurrencies and digital assets, which are currently not formally recognized.

According to reports from Ekathimerini on July 15, a special committee will present its recommendations on cryptocurrencies and digital assets to the Ministry of National Economy and Finance by September.

The proposal aims to integrate cryptocurrencies into the tax system by January 2025, subjecting profits from crypto and digital asset trades to a 15% capital gains tax, similar to securities sales.

The committee’s report will cover three main areas: defining and registering all cryptocurrencies, outlining the taxation method, and establishing monitoring mechanisms.

READ MORE:

Bank of International Settlements Tightens Rules on Stablecoins

Ekathimerini notes that due to the absence of specific legislation in Greece, profits from crypto transactions have been exploited, with few investors declaring their gains. The beneficiaries are primarily individuals with substantial real estate holdings or no income, alongside unemployed individuals. Tax professionals in Greece have observed increased crypto activity, particularly among those aged around 30.

Related developments include Athens witnessing a rise in crypto-related events and meetups, indicative of growing local interest in decentralized finance and crypto initiatives.

Alexander Stefanov