EU crypto taxation proposal will target firms all over the world

Companies offering EU residents crypto services will need to report on transactions to tax authorities.A new proposal from the European Commission will require crypto asset service providers of all sizes and geographical locations to report on the transactions of EU-based clients to tax authorities. Tax authorities currently lack the necessary information to monitor proceeds obtained by using crypto-assets, which are easily traded across borders,” the European Commission wrote in a statement. “This severely limits their ability to ensure that taxes are effectively paid, which means European citizens lose important tax revenues.”The European Commission aims for the new rules to be enforced on Jan 1. 2026.