Key Takeaways:
Greece will impose a 15% capital gains tax on cryptocurrency profits, bringing the country in line with a patchwork of European tax regimes that range from 8% in Cyprus to 30% in France.
Greece is preparing legislation to impose a 15% capital gains tax on cryptocurrencies, two government officials with knowledge of the issue told Reuters on Friday, as European Union countries move to bring digital assets into formal tax codes without a unified regional framework.
"The aim is to include cryptocurrencies in the country's tax code," a senior Finance Ministry official said. The bill is expected to be submitted to parliament in coming months, the official added.
The legislation will exempt the first 500 euros ($580) of annual gains from taxation. Individual cryptocurrency mining will remain untaxed, though mining operations registered as corporations will be subject to the levy. A second government official confirmed the plan and the exemption thresholds.
Greece currently lacks a comprehensive legal framework for taxing cryptocurrencies, and the government acknowledged it is difficult to estimate the size of the domestic market since most investors use platforms outside the country. No specific projection for state revenues from the new tax has been released.
The Greek proposal comes as the EU's Markets in Crypto-Assets regulation enters its enforcement phase. Crypto firms operating in the bloc without a MiCA license face a July 1 cutoff, after which unlicensed entities must stop serving EU clients or begin an orderly wind-down. France's financial regulator, the AMF, has warned that unauthorized operators could face a two-year prison sentence and a 30,000-euro fine under the country's Monetary and Financial Code.
European crypto tax rates vary widely. Cyprus levies approximately 8% on crypto gains, while France applies a rate of about 30%. Most EU countries tax investment gains from digital assets, though the absence of a unified regional framework creates compliance complexity for cross-border investors and platforms operating across multiple jurisdictions.
The Greek tax plan and the MiCA enforcement deadline signal a broader shift toward regulatory clarity in Europe, which could drive short-term selling by Greek holders seeking to realize gains before the law takes effect. In the longer term, the precedent may influence other EU nations still developing their crypto tax policies, potentially reshaping trading volumes and platform choices across the region.
This article is for informational purposes only and does not constitute investment advice.
