Netherlands Opens Crypto Asset Reporting Bill for Consultation

The Netherlands is soliciting public feedback on a bill to implement a European Union directive, known as DAC 8, that would require EU cryptocurrency users to report their transactions to tax authorities.

“With this bill, we are taking an important step in the taxation of cryptos. In the future, EU member states will be able to cooperate better thanks to the exchange of data and transactions with cryptos will become transparent to tax authorities,” Folkert Idsinga, state secretary for taxation and tax authorities, said in a Thursday announcement.

“This will combat tax avoidance and evasion and European ...