Crypto operators may soon be responsible for collecting,
validating and reporting information related to crypto-assets and
their users.
On 8 December 2022, the European Commission proposed a text
amending Directive 2011/16/EU on administrative cooperation in the
field of taxation (DAC8). DAC8
provides, among other things, the following: changes to the
existing DAC framework, rules on advance cross-border rulings for
high-net-worth individuals, and a crypto-asset reporting framework
for competent EU authorities. The focus of this alert is on the
Crypto-Asset Reporting Framework (CARF), intended to enter into
force on 1 January 2026. Within the current DAC framework,
crypto-assets are excluded from information exchange. If a taxpayer
holds or transacts in crypto-assets, the party that has these
customers is currently not obliged to declare related information
on crypto-assets to EU tax authorities. Since assets held in these
electronic instruments carry a potential
