EU to tighten regulations on cryptocurrency ...News

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EU to tighten regulations on cryptocurrency
source : Russia Today ( News ) () 27
Crypto service providers will be forced to report transaction data to tax authorities The European Commission (EC) is planning to combat tax fraud and evasion in the crypto sector by making all digital asset service providers report transactions involving customers residing in the EU. A mechanism to force companies outside of the bloc to disclose user holdings is currently being developed. According to the EC, tax authorities currently lack proper information about the gains of crypto holders, limiting the tax revenues derived from the sector. The proposed rules, known as the eighth Directive on Administrative Coo

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