Greece Considers Tax on Cryptocurrency Profits
Greece is considering the introduction of a tax on profits from trading cryptocurrencies to address gaps in legislation and increase tax transparency in this area. According to Ekathimerini, citing sources in the Ministry of Economy and Finance, authorities are concerned about the lack of clear tax rules for cryptocurrencies and the fact that many investors, often formally unemployed, do not declare income from digital assets.
The Ministry notes that cryptocurrency transactions have significantly increased in 2024, especially among people aged 30 and older who own real estate. In Athens, the capital of Greece, there is a growing number of events and meetings related to cryptocurrencies, highlighting the increasing interest in digital assets and the need for stricter regulation.
The government expects proposals from a specially created committee, which is expected to present a set of measures in September to improve tax legislation in the field of cryptocurrencies. It is expected that the new tax system will not only attract additional funds to the state budget but also provide fair conditions for participants in the local crypto industry.
Earlier, European regulators published new guidance principles to help classify digital assets in accordance with the Crypto Assets Regulation in the European Union (MiCA). This will also help standardize approaches to cryptocurrency taxation across Europe, which may influence legislative initiatives in Greece.
