Reporting duty for crypto service providers and automatic EU data exchange for tax enforcement

Cryptocurrencies like Bitcoin are becoming increasingly popular, but tax offices have so far had few ways to capture income from them. In future, providers of crypto services will have to report to the state which transactions their users carry out. This reporting duty also applies to new digital forms of payment such as e-money and central bank digital currency. The collected data will be exchanged automatically between EU countries so that taxes can be collected more fairly. The act does not create new taxes, but only ensures that existing rules are enforced more effectively.